New York State Common Retirement Fund Sells 104,200 Shares of TEGNA Inc. $TGNA

New York State Common Retirement Fund decreased its holdings in TEGNA Inc. (NYSE:TGNA) by 66.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,127 shares of the company’s stock after selling 104,200 shares during the period. New York State Common Retirement Fund’s holdings in TEGNA were worth $1,060,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. increased its holdings in shares of TEGNA by 85.4% in the 3rd quarter. Federated Hermes Inc. now owns 1,852 shares of the company’s stock valued at $38,000 after acquiring an additional 853 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of TEGNA by 13.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 31,810 shares of the company’s stock valued at $647,000 after buying an additional 3,858 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of TEGNA by 2.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 79,815 shares of the company’s stock worth $1,623,000 after acquiring an additional 1,834 shares in the last quarter. Strs Ohio lifted its position in TEGNA by 108.1% during the third quarter. Strs Ohio now owns 53,900 shares of the company’s stock valued at $1,096,000 after acquiring an additional 28,000 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in TEGNA in the third quarter valued at approximately $890,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Up 8.9%

NYSE:TGNA opened at $20.77 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.22 and a quick ratio of 2.22. The company’s fifty day moving average price is $19.25 and its 200-day moving average price is $19.65. TEGNA Inc. has a 1-year low of $14.87 and a 1-year high of $21.35. The firm has a market capitalization of $3.35 billion, a P/E ratio of 9.80 and a beta of 0.15.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $650.79 million during the quarter, compared to analysts’ expectations of $658.28 million. TEGNA had a net margin of 11.97% and a return on equity of 12.50%. TEGNA’s revenue for the quarter was down 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, equities research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, December 5th. TEGNA’s dividend payout ratio (DPR) is 23.58%.

Analysts Set New Price Targets

TGNA has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. Zacks Research raised shares of TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company downgraded shares of TEGNA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, TEGNA currently has a consensus rating of “Hold” and a consensus target price of $19.75.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.