Legato Capital Management LLC Has $1.43 Million Position in TEGNA Inc. (NYSE:TGNA)

Legato Capital Management LLC lessened its stake in shares of TEGNA Inc. (NYSE:TGNA) by 8.4% during the 4th quarter, HoldingsChannel reports. The firm owned 78,197 shares of the company’s stock after selling 7,169 shares during the quarter. Legato Capital Management LLC’s holdings in TEGNA were worth $1,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TGNA. Principal Financial Group Inc. increased its stake in shares of TEGNA by 26.2% in the third quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock worth $14,068,000 after purchasing an additional 184,845 shares during the period. Capital Management Corp VA grew its holdings in TEGNA by 30.3% in the 3rd quarter. Capital Management Corp VA now owns 725,805 shares of the company’s stock valued at $11,453,000 after buying an additional 168,667 shares during the last quarter. EMC Capital Management increased its position in TEGNA by 648.8% in the 4th quarter. EMC Capital Management now owns 20,346 shares of the company’s stock worth $372,000 after buying an additional 17,629 shares during the period. World Investment Advisors LLC acquired a new position in shares of TEGNA during the third quarter worth approximately $528,000. Finally, Guidance Capital Inc. bought a new stake in shares of TEGNA in the fourth quarter valued at approximately $476,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Price Performance

NYSE:TGNA opened at $18.13 on Thursday. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 6.41 and a beta of 0.52. The company has a 50-day moving average of $18.31 and a 200-day moving average of $16.68. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s payout ratio is 17.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TGNA shares. Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price objective on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Guggenheim reiterated a “buy” rating and issued a $22.00 target price on shares of TEGNA in a research note on Friday, January 24th. Benchmark boosted their price target on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.