TEGNA Inc. (NYSE:TGNA) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its holdings in TEGNA Inc. (NYSE:TGNA) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,576 shares of the company’s stock after selling 1,573 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in TEGNA were worth $303,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TGNA. Three Seasons Wealth LLC acquired a new stake in TEGNA during the 4th quarter worth about $512,000. Hancock Whitney Corp grew its holdings in TEGNA by 170.4% during the fourth quarter. Hancock Whitney Corp now owns 89,688 shares of the company’s stock worth $1,640,000 after acquiring an additional 56,520 shares during the period. Price T Rowe Associates Inc. MD raised its position in TEGNA by 6.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 154,792 shares of the company’s stock valued at $2,832,000 after acquiring an additional 9,568 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in TEGNA by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 112,024 shares of the company’s stock valued at $2,049,000 after acquiring an additional 33,512 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of TEGNA by 122.2% during the 4th quarter. Hsbc Holdings PLC now owns 71,723 shares of the company’s stock worth $1,318,000 after purchasing an additional 39,451 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Stock Up 2.7 %

TGNA stock opened at $16.49 on Friday. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a 50-day simple moving average of $17.12 and a 200-day simple moving average of $17.70. The stock has a market capitalization of $2.65 billion, a P/E ratio of 5.83 and a beta of 0.25.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were paid 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 3.03%. TEGNA’s dividend payout ratio (DPR) is currently 14.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TGNA shares. Guggenheim lowered their price target on shares of TEGNA from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company decreased their price objective on shares of TEGNA from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.75.

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.