Lingohr Asset Management GmbH Sells 13,752 Shares of TEGNA Inc. (NYSE:TGNA)

Lingohr Asset Management GmbH lessened its stake in shares of TEGNA Inc. (NYSE:TGNA) by 27.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 35,956 shares of the company’s stock after selling 13,752 shares during the period. TEGNA accounts for about 1.4% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 29th biggest holding. Lingohr Asset Management GmbH’s holdings in TEGNA were worth $659,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc bought a new position in TEGNA in the third quarter worth approximately $260,000. Thrivent Financial for Lutherans raised its stake in TEGNA by 217.0% in the third quarter. Thrivent Financial for Lutherans now owns 129,912 shares of the company’s stock worth $2,050,000 after buying an additional 88,932 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in TEGNA by 0.7% in the third quarter. Segall Bryant & Hamill LLC now owns 353,586 shares of the company’s stock worth $5,580,000 after buying an additional 2,599 shares in the last quarter. Advisors Asset Management Inc. raised its stake in TEGNA by 194.9% in the third quarter. Advisors Asset Management Inc. now owns 10,262 shares of the company’s stock worth $162,000 after buying an additional 6,782 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in TEGNA by 179.6% in the third quarter. Intech Investment Management LLC now owns 72,661 shares of the company’s stock worth $1,147,000 after buying an additional 46,678 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TGNA shares. Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $21.00 to $23.00 in a research note 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 lowered shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

TEGNA Price Performance

NYSE TGNA opened at $18.87 on Thursday. The firm’s fifty day simple moving average is $17.97 and its two-hundred day simple moving average is $17.29. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The firm has a market capitalization of $3.02 billion, a P/E ratio of 6.67 and a beta of 0.45.

TEGNA Announces Dividend

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

TEGNA Company 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.