Dean Investment Associates LLC lowered its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 23.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 217,835 shares of the company's stock after selling 68,356 shares during the quarter. Dean Investment Associates LLC owned 0.14% of TEGNA worth $3,437,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TGNA. Miller Howard Investments Inc. NY raised its position in shares of TEGNA by 1.8% in the second quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company's stock valued at $586,000 after buying an additional 726 shares during the last quarter. US Bancorp DE grew its position in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after purchasing an additional 764 shares in the last quarter. Manchester Financial Inc. lifted its position in TEGNA by 0.9% during the second quarter. Manchester Financial Inc. now owns 118,202 shares of the company's stock worth $1,648,000 after buying an additional 1,047 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in TEGNA by 0.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 173,408 shares of the company's stock valued at $2,417,000 after buying an additional 1,341 shares in the last quarter. Finally, Headlands Technologies LLC increased 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 worth $63,000 after acquiring an additional 1,470 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.
Wall Street Analyst Weigh In
TGNA has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a report on Saturday, November 23rd. Finally, Benchmark upped their price objective on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, November 8th.
View Our Latest Report on TGNA
Insider Activity at TEGNA
In other news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 154,617 shares of the company's stock, valued at $2,535,718.80. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.
TEGNA Trading Up 0.4 %
Shares of TGNA stock traded up $0.07 on Friday, hitting $18.77. The stock had a trading volume of 1,332,871 shares, compared to its average volume of 1,744,280. The company's 50 day moving average price is $17.20 and its 200-day moving average price is $15.35. 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 capitalization of $3.02 billion, a P/E ratio of 6.63 and a beta of 0.52. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62.
TEGNA (NYSE:TGNA - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. During the same period in the prior year, the business posted $0.39 earnings per share. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.
TEGNA Dividend Announcement
The firm also recently disclosed 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 is Friday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 2.66%. TEGNA's dividend payout ratio is presently 17.67%.
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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