Lingohr Asset Management GmbH Lowers Stake in TEGNA Inc. (NYSE:TGNA)

Lingohr Asset Management GmbH decreased its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,956 shares of the company's stock after selling 13,752 shares during the period. TEGNA accounts for 1.4% of Lingohr Asset Management GmbH's holdings, making the stock its 29th biggest position. Lingohr Asset Management GmbH's holdings in TEGNA were worth $659,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in shares of TEGNA by 84.8% during the fourth quarter. Teacher Retirement System of Texas now owns 205,660 shares of the company's stock worth $3,762,000 after purchasing an additional 94,356 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in TEGNA during the 4th quarter worth $445,000. Xponance Inc. increased its position in TEGNA by 15.5% during the 4th quarter. Xponance Inc. now owns 12,840 shares of the company's stock valued at $235,000 after buying an additional 1,720 shares in the last quarter. Cibc World Markets Corp purchased a new stake in TEGNA in the fourth quarter valued at about $283,000. Finally, Natixis Advisors LLC purchased a new stake in TEGNA in the fourth quarter valued at about $279,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Stock Performance

Shares of TEGNA stock traded up $0.19 during trading on Monday, hitting $18.76. 1,948,503 shares of the company's stock were exchanged, compared to its average volume of 1,853,861. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 6.63 and a beta of 0.45. The business has a 50-day simple moving average of $18.01 and a 200-day simple moving average of $17.42. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.67%. TEGNA's payout ratio is currently 14.12%.

Analyst Ratings Changes

Several equities research analysts have recently commented on TGNA shares. StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Guggenheim reaffirmed a "buy" rating and set a $22.00 price target on shares of TEGNA in a research report on Friday, January 24th. Finally, Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $21.75.

TEGNA 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.