TEGNA Inc. (NYSE:TGNA) Shares Sold by Assetmark Inc.

Assetmark Inc. lowered its stake in TEGNA Inc. (NYSE:TGNA) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,019 shares of the company’s stock after selling 22,696 shares during the quarter. Assetmark Inc. owned about 0.12% of TEGNA worth $3,475,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TGNA. Pacer Advisors Inc. lifted 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 valued at $170,521,000 after buying an additional 10,445,739 shares during the last quarter. Empowered Funds LLC lifted its position in TEGNA by 757.4% in the third quarter. Empowered Funds LLC now owns 662,417 shares of the company’s stock valued at $10,453,000 after buying an additional 585,156 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in TEGNA in the third quarter valued at about $5,539,000. State Street Corp lifted 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 valued at $129,991,000 after buying an additional 276,699 shares during the last quarter. Finally, Geode Capital Management LLC lifted 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 valued at $77,422,000 after buying an additional 238,696 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Stock Up 0.9 %

TGNA stock opened at $17.80 on Monday. The company’s 50 day moving average price is $18.06 and its 200 day moving average price is $17.10. 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 Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 6.29 and a beta of 0.45.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 2.81%. TEGNA’s payout ratio is 14.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TGNA. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. Guggenheim reiterated a “buy” rating and set a $22.00 price target on shares of TEGNA in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.