Lingohr Asset Management GmbH Cuts Holdings in TEGNA Inc. (NYSE:TGNA)

Lingohr Asset Management GmbH decreased its position in shares of TEGNA Inc. (NYSE:TGNA) by 27.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,956 shares of the company’s stock after selling 13,752 shares during the period. TEGNA makes up approximately 1.4% of Lingohr Asset Management GmbH’s investment portfolio, 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 reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in TEGNA by 2,898.4% in the third quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company’s stock worth $170,521,000 after acquiring an additional 10,445,739 shares in the last quarter. Public Sector Pension Investment Board purchased a new position in TEGNA in the third quarter worth about $5,539,000. State Street Corp grew its position in TEGNA by 3.5% in the third quarter. State Street Corp now owns 8,194,619 shares of the company’s stock worth $129,991,000 after acquiring an additional 276,699 shares in the last quarter. Geode Capital Management LLC grew its position in TEGNA by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company’s stock worth $77,422,000 after acquiring an additional 238,696 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in TEGNA in the third quarter worth about $3,096,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Stock Up 3.9 %

Shares of NYSE TGNA opened at $18.87 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market cap of $3.02 billion, a P/E ratio of 6.67 and a beta of 0.45. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The firm has a 50-day simple moving average of $17.97 and a two-hundred day simple moving average of $17.29.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, March 7th. TEGNA’s dividend payout ratio is presently 14.12%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TGNA. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. Guggenheim reissued a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a research note on Friday, January 24th. Finally, StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

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.