California Public Employees Retirement System Has $8.19 Million Stock Position in TEGNA Inc. (NYSE:TGNA)

California Public Employees Retirement System reduced its position in TEGNA Inc. (NYSE:TGNAGet Rating) by 15.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 390,676 shares of the company’s stock after selling 71,331 shares during the period. California Public Employees Retirement System’s holdings in TEGNA were worth $8,192,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TGNA. TIG Advisors LLC lifted its stake in TEGNA by 1,799.8% in the 1st quarter. TIG Advisors LLC now owns 5,999,495 shares of the company’s stock valued at $134,389,000 after purchasing an additional 5,683,695 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in TEGNA by 555,167.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,554,228 shares of the company’s stock valued at $57,215,000 after acquiring an additional 2,553,768 shares during the period. HG Vora Capital Management LLC raised its holdings in TEGNA by 333.3% in the 1st quarter. HG Vora Capital Management LLC now owns 3,250,000 shares of the company’s stock valued at $72,800,000 after acquiring an additional 2,500,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in TEGNA by 2,260.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,205,667 shares of the company’s stock valued at $49,407,000 after acquiring an additional 2,112,223 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in TEGNA by 164.5% in the 1st quarter. Allianz Asset Management GmbH now owns 1,705,949 shares of the company’s stock valued at $38,213,000 after acquiring an additional 1,061,047 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of TEGNA in a report on Wednesday, October 12th. They issued a “buy” rating on the stock.

TEGNA Stock Up 0.7 %

TEGNA stock opened at $19.50 on Wednesday. The stock has a market cap of $4.35 billion, a P/E ratio of 8.06 and a beta of 0.74. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a twelve month low of $17.94 and a twelve month high of $23.04. The company’s 50-day moving average price is $20.56 and its two-hundred day moving average price is $20.93.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.38 annualized dividend and a dividend yield of 1.95%. TEGNA’s dividend payout ratio is presently 15.70%.

TEGNA Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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