CANADA LIFE ASSURANCE Co Sells 95,966 Shares of TEGNA Inc. (NYSE:TGNA)

CANADA LIFE ASSURANCE Co cut its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 24.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,538 shares of the company's stock after selling 95,966 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.19% of TEGNA worth $5,547,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TGNA. Jones Financial Companies Lllp acquired a new position in TEGNA during the fourth quarter worth $27,000. Smartleaf Asset Management LLC increased its stake in shares of TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after purchasing an additional 832 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of TEGNA during the 4th quarter worth about $32,000. GAMMA Investing LLC raised its holdings in shares of TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after purchasing an additional 757 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in TEGNA in the 4th quarter valued at about $57,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Stock Up 1.7 %

TEGNA stock opened at $15.98 on Thursday. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The stock has a market cap of $2.57 billion, a P/E ratio of 5.65 and a beta of 0.25. The company's 50-day moving average price is $17.34 and its two-hundred day moving average price is $17.68. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were issued a dividend of $0.125 per share. The ex-dividend date was Friday, March 7th. This represents a $0.50 annualized dividend and a yield of 3.13%. TEGNA's payout ratio is currently 14.12%.

Analysts Set New Price Targets

Several research firms have issued reports on TGNA. StockNews.com lowered TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Guggenheim dropped their price target on TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $21.25.

About TEGNA

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.

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