Barclays PLC Lowers Stock Position in TEGNA Inc. (NYSE:TGNA)

Barclays PLC reduced its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 57.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,609 shares of the company's stock after selling 420,670 shares during the period. Barclays PLC owned 0.19% of TEGNA worth $4,838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new position in shares of TEGNA in the 3rd quarter worth $28,000. Headlands Technologies LLC lifted its stake in shares of TEGNA by 48.2% in the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company's stock valued at $63,000 after buying an additional 1,470 shares in the last quarter. Quarry LP grew its holdings in shares of TEGNA by 455.2% during the third quarter. Quarry LP now owns 4,025 shares of the company's stock valued at $64,000 after buying an additional 3,300 shares during the last quarter. US Bancorp DE increased its position in shares of TEGNA by 20.4% during the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock worth $71,000 after acquiring an additional 764 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of TEGNA in the second quarter worth approximately $116,000. 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 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on TGNA. JPMorgan Chase & Co. raised their price objective on TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Benchmark lifted their target price on TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $21.00 to $23.00 in a report on Thursday. Finally, StockNews.com raised TEGNA from a "hold" rating to a "buy" rating in a report on Friday, December 13th.

TEGNA Price Performance

Shares of TGNA stock traded up $0.27 during trading on Friday, hitting $18.40. The company had a trading volume of 6,081,874 shares, compared to its average volume of 2,184,578. TEGNA Inc. has a 52 week low of $12.35 and a 52 week 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 capitalization of $2.96 billion, a price-to-earnings ratio of 6.50 and a beta of 0.52. The stock's 50-day moving average is $17.77 and its two-hundred day moving average is $15.63.

TEGNA (NYSE:TGNA - Get Free Report) last announced 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. The company had revenue of $806.83 million during the quarter, compared to analysts' expectations of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm's revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.125 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 2.72%. TEGNA's payout ratio is presently 17.67%.

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.