MetLife Investment Management LLC lowered its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 48.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,455 shares of the company's stock after selling 91,574 shares during the period. MetLife Investment Management LLC owned about 0.06% of TEGNA worth $1,522,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in TEGNA in the third quarter valued at approximately $28,000. US Bancorp DE boosted its holdings in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after acquiring an additional 764 shares in the last quarter. Headlands Technologies LLC grew its position in TEGNA by 48.2% during the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company's stock worth $63,000 after acquiring an additional 1,470 shares during the last quarter. CWM LLC increased its holdings in TEGNA by 146.3% in the 2nd quarter. CWM LLC now owns 4,614 shares of the company's stock worth $64,000 after purchasing an additional 2,741 shares in the last quarter. Finally, Blue Trust Inc. raised its position in TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company's stock valued at $70,000 after purchasing an additional 3,350 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors.
Insider Buying and Selling at TEGNA
In related 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 owns 154,617 shares in the company, valued at $2,535,718.80. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.88% of the company's stock.
TEGNA Trading Up 0.4 %
Shares of TGNA stock traded up $0.07 on Friday, hitting $18.77. The company had a trading volume of 1,332,871 shares, compared to its average volume of 2,199,302. The stock's 50-day moving average is $17.20 and its two-hundred day moving average is $15.34. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The firm has a market cap of $3.02 billion, a P/E ratio of 6.63 and a beta of 0.52. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62.
TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share 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 net margin of 16.75% and a return on equity of 14.49%. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, equities research analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.
TEGNA Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 dividend on an annualized basis and a yield of 2.66%. TEGNA's dividend payout ratio (DPR) is currently 17.67%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on TGNA shares. StockNews.com cut TEGNA from a "buy" rating to a "hold" rating in a report on Saturday, November 23rd. Benchmark boosted their target price on shares of TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target 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.
View Our Latest Report on TGNA
TEGNA Profile
(
Free Report)
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.
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