Bridgewater Associates LP lowered its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 20.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,909 shares of the company's stock after selling 72,535 shares during the quarter. Bridgewater Associates LP owned 0.17% of TEGNA worth $4,338,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in TEGNA by 26.2% in the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company's stock worth $14,068,000 after buying an additional 184,845 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of TEGNA by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company's stock worth $143,714,000 after purchasing an additional 141,638 shares during the last quarter. Capital Management Corp VA increased its position in shares of TEGNA by 30.3% in the 3rd quarter. Capital Management Corp VA now owns 725,805 shares of the company's stock worth $11,453,000 after purchasing an additional 168,667 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of TEGNA during the 3rd quarter valued at about $626,000. Finally, Tidal Investments LLC grew its position in shares of TEGNA by 48.6% during the 1st quarter. Tidal Investments LLC now owns 125,504 shares of the company's stock valued at $1,871,000 after buying an additional 41,034 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.
Insider Transactions at TEGNA
In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the completion of the sale, the chief operating officer now directly owns 154,617 shares of the company's stock, valued at $2,535,718.80. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.88% of the company's stock.
TEGNA Stock Performance
NYSE TGNA traded up $0.12 on Friday, hitting $18.77. The stock had a trading volume of 966,481 shares, compared to its average volume of 2,220,115. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 6.63 and a beta of 0.49. The company's 50-day moving average is $16.85 and its two-hundred day moving average is $15.22.
TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.11. The company had revenue of $806.83 million during the quarter, compared to analyst estimates of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. On average, analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current year.
TEGNA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, December 6th. TEGNA's dividend payout ratio is currently 17.67%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Benchmark boosted their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Finally, StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Saturday, November 23rd.
Get Our Latest Report on TEGNA
About TEGNA
(
Free Report)
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.
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