New York State Common Retirement Fund Sells 28,300 Shares of TEGNA Inc. (NYSE:TGNA)

New York State Common Retirement Fund lessened its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 174,727 shares of the company's stock after selling 28,300 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of TEGNA worth $3,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after purchasing an additional 757 shares during the period. US Bancorp DE lifted its position in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after buying an additional 764 shares in the last quarter. Sanctuary Advisors LLC grew its stake in TEGNA by 7.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company's stock valued at $284,000 after acquiring an additional 1,239 shares in the last quarter. Covestor Ltd increased its holdings in shares of TEGNA by 20.8% during the 3rd quarter. Covestor Ltd now owns 8,852 shares of the company's stock worth $140,000 after buying an additional 1,525 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in TEGNA in the 3rd quarter valued at approximately $28,000. Institutional investors own 92.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TGNA shares. Wells Fargo & Company upgraded 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. JPMorgan Chase & Co. upped their target price on TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday. Guggenheim restated a "buy" rating and issued a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. Finally, Benchmark upped their price target on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $21.75.

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TEGNA Stock Down 1.9 %

Shares of NYSE TGNA traded down $0.35 during trading hours on Tuesday, hitting $17.42. The stock had a trading volume of 1,393,108 shares, compared to its average volume of 1,278,728. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market capitalization of $2.81 billion, a P/E ratio of 6.15 and a beta of 0.52. The firm's 50-day moving average price is $18.14 and its two-hundred day moving average price is $16.99. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, March 7th. TEGNA's dividend payout ratio is currently 14.12%.

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.