Mutual of America Capital Management LLC Sells 355,058 Shares of TEGNA Inc. (NYSE:TGNA)

Mutual of America Capital Management LLC lowered its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 93.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,407 shares of the company’s stock after selling 355,058 shares during the quarter. Mutual of America Capital Management LLC’s holdings in TEGNA were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TGNA. Principal Financial Group Inc. increased its position in TEGNA by 26.2% in the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock worth $14,068,000 after buying an additional 184,845 shares during the period. EMC Capital Management increased its stake in TEGNA by 648.8% in the fourth quarter. EMC Capital Management now owns 20,346 shares of the company’s stock valued at $372,000 after acquiring an additional 17,629 shares during the period. Guidance Capital Inc. bought a new stake in TEGNA in the fourth quarter valued at about $476,000. World Investment Advisors LLC bought a new position in shares of TEGNA during the 3rd quarter worth approximately $528,000. Finally, Jennison Associates LLC bought a new stake in shares of TEGNA in the 4th quarter worth about $550,000. Institutional investors own 92.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TGNA. Guggenheim reissued a “buy” rating and issued a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

TEGNA Trading Up 0.9 %

NYSE TGNA opened at $17.80 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The stock’s 50-day moving average is $18.06 and its 200-day moving average is $17.10. The firm has a market cap of $2.85 billion, a P/E ratio of 6.29 and a beta of 0.45.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.81%. TEGNA’s payout ratio is presently 14.12%.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.