Fmr LLC Sells 231,712 Shares of TEGNA Inc. (NYSE:TGNA)

FMR LLC lowered its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 29.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 548,524 shares of the company's stock after selling 231,712 shares during the quarter. FMR LLC owned 0.34% of TEGNA worth $8,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TGNA. Principal Financial Group Inc. raised its holdings in shares of 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 purchasing an additional 184,845 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 period. Capital Management Corp VA raised its holdings 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 period. SG Americas Securities LLC bought a new stake in shares of TEGNA in the 3rd quarter worth approximately $626,000. Finally, Squarepoint Ops LLC raised its holdings in shares of TEGNA by 132.9% in the 2nd quarter. Squarepoint Ops LLC now owns 916,760 shares of the company's stock worth $12,780,000 after purchasing an additional 523,120 shares during the period. Institutional investors own 92.19% of the company's stock.

TEGNA Stock Performance

TEGNA stock traded down $0.02 during mid-day trading on Thursday, reaching $18.66. The company's stock had a trading volume of 785,038 shares, compared to its average volume of 2,179,722. The firm's fifty day moving average price is $17.39 and its two-hundred day moving average price is $15.44. The company has a market capitalization of $3.01 billion, a P/E ratio of 6.60 and a beta of 0.52. 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 Inc. has a 12-month low of $12.35 and a 12-month high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. The firm 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. Sell-side analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

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 $0.125 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.50 annualized dividend and a yield of 2.68%. TEGNA's dividend payout ratio (DPR) is presently 17.67%.

Wall Street Analyst Weigh In

TGNA has been the topic of a number of research reports. StockNews.com cut shares of TEGNA from a "buy" rating to a "hold" rating in a report on Saturday, November 23rd. Benchmark lifted their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th.

Insider Buying and Selling

In related news, COO Lynn B. Trelstad sold 25,000 shares of the company's stock in a transaction on Friday, October 25th. The shares were 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 in the company, valued at approximately $2,535,718.80. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is owned by company insiders.

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.