Edgestream Partners L.P. Decreases Holdings in TEGNA Inc. (NYSE:TGNA)

Edgestream Partners L.P. cut its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 46.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,613 shares of the company's stock after selling 121,778 shares during the quarter. Edgestream Partners L.P. owned approximately 0.09% of TEGNA worth $2,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TGNA. Harbor Capital Advisors Inc. bought a new position in TEGNA during the third quarter worth $28,000. Headlands Technologies LLC lifted its stake in shares of 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 period. CWM LLC boosted its position in shares of TEGNA by 146.3% during the 2nd quarter. CWM LLC now owns 4,614 shares of the company's stock valued at $64,000 after purchasing an additional 2,741 shares in the last quarter. Blue Trust Inc. grew its stake in TEGNA by 247.8% during the second quarter. Blue Trust Inc. now owns 4,702 shares of the company's stock worth $70,000 after purchasing an additional 3,350 shares during the period. Finally, US Bancorp DE increased its holdings in TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock worth $71,000 after purchasing an additional 764 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Stock Down 1.2 %

Shares of NYSE:TGNA traded down $0.22 during trading on Tuesday, reaching $18.55. 1,215,103 shares of the stock were exchanged, compared to its average volume of 2,213,392. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The stock has a fifty day moving average of $16.93 and a two-hundred day moving average of $15.24. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 6.55 and a beta of 0.52.

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

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 2.70%. TEGNA's payout ratio is 17.67%.

Insider Buying and Selling

In other news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. The trade was a 13.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

TEGNA 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.