TEGNA Inc. (NYSE:TGNA) Stock Position Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 108.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,933 shares of the company's stock after acquiring an additional 182,693 shares during the period. BNP Paribas Financial Markets owned about 0.20% of TEGNA worth $5,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Parallel Advisors LLC raised its position in shares of TEGNA by 142.1% during the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company's stock worth $26,000 after purchasing an additional 983 shares during the last quarter. CWM LLC raised its position in shares of TEGNA by 389.0% during the 1st quarter. CWM LLC now owns 1,873 shares of the company's stock worth $28,000 after purchasing an additional 1,490 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of TEGNA by 32.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company's stock worth $74,000 after purchasing an additional 1,180 shares during the last quarter. Signaturefd LLC raised its position in shares of TEGNA by 437.5% during the 4th quarter. Signaturefd LLC now owns 9,686 shares of the company's stock worth $148,000 after purchasing an additional 7,884 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of TEGNA during the 4th quarter worth approximately $153,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TEGNA news, CEO David T. Lougee sold 98,437 shares of TEGNA stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.98, for a total value of $1,376,149.26. Following the completion of the sale, the chief executive officer now directly owns 594,401 shares of the company's stock, valued at approximately $8,309,725.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction on Friday, June 7th. The shares were sold at an average price of $13.99, for a total transaction of $349,750.00. Following the completion of the sale, the chief operating officer now directly owns 190,474 shares of the company's stock, valued at approximately $2,664,731.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David T. Lougee sold 98,437 shares of the business's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the sale, the chief executive officer now directly owns 594,401 shares of the company's stock, valued at $8,309,725.98. The disclosure for this sale can be found here. In the last three months, insiders sold 210,343 shares of company stock valued at $3,072,994. Company insiders own 0.88% of the company's stock.

TEGNA Price Performance

Shares of TEGNA stock traded up $0.25 during trading on Friday, hitting $14.95. 2,088,957 shares of the company were exchanged, compared to its average volume of 2,167,901. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $17.37. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 5.23 and a beta of 0.51. The firm has a 50 day moving average price of $14.19 and a 200 day moving average price of $14.48.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $714.30 million during the quarter, compared to the consensus estimate of $718.86 million. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. On average, equities analysts expect that TEGNA Inc. will post 3.11 earnings per share for the current fiscal year.

TEGNA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $0.125 dividend. This is a boost from TEGNA's previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, June 7th. TEGNA's payout ratio is presently 17.48%.

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.