Citigroup Inc. Sells 181,323 Shares of TEGNA Inc. (NYSE:TGNA)

Citigroup Inc. decreased its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 42.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,290 shares of the company's stock after selling 181,323 shares during the quarter. Citigroup Inc. owned approximately 0.15% of TEGNA worth $3,855,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Miller Howard Investments Inc. NY raised its position in TEGNA by 1.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company's stock valued at $586,000 after purchasing an additional 726 shares during the last quarter. US Bancorp DE raised its position in TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after purchasing an additional 764 shares during the last quarter. Manchester Financial Inc. raised its position in TEGNA by 0.9% in the 2nd quarter. Manchester Financial Inc. now owns 118,202 shares of the company's stock valued at $1,648,000 after purchasing an additional 1,047 shares during the last quarter. Texas Permanent School Fund Corp raised its position in TEGNA by 0.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 173,408 shares of the company's stock valued at $2,417,000 after purchasing an additional 1,341 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in TEGNA by 48.2% in the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company's stock valued at $63,000 after purchasing an additional 1,470 shares during the last quarter. Institutional investors own 92.19% of the company's stock.

Insider Activity at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the transaction, the chief operating officer now directly owns 154,617 shares of the company's stock, valued at approximately $2,535,718.80. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

TEGNA Trading Up 1.5 %

NYSE TGNA traded up $0.29 on Wednesday, reaching $18.84. The company had a trading volume of 1,056,677 shares, compared to its average volume of 2,208,449. The stock's 50 day moving average is $17.00 and its 200-day moving average is $15.26. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 6.58 and a beta of 0.52. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. The business had revenue of $806.83 million during the quarter, compared to the consensus estimate of $795.72 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm's revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. Equities analysts predict that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $0.125 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.50 dividend on an annualized basis and a yield of 2.65%. TEGNA's dividend payout ratio is presently 17.67%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Benchmark boosted their target price on TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, StockNews.com downgraded TEGNA from a "buy" rating to a "hold" rating in a research report on Saturday, November 23rd.

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.