TEGNA Inc. (NYSE:TGNA) Shares Sold by Demars Financial Group LLC

Demars Financial Group LLC lessened its holdings in TEGNA Inc. (NYSE:TGNA) by 82.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,845 shares of the company’s stock after selling 162,733 shares during the period. Demars Financial Group LLC’s holdings in TEGNA were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of TGNA. Muhlenkamp & Co. Inc. lifted its stake in TEGNA by 106.0% during the 3rd quarter. Muhlenkamp & Co. Inc. now owns 431,541 shares of the company’s stock worth $6,288,000 after acquiring an additional 222,103 shares in the last quarter. LSV Asset Management increased its holdings in TEGNA by 10.0% during the 3rd quarter. LSV Asset Management now owns 4,668,419 shares of the company’s stock worth $68,019,000 after purchasing an additional 424,579 shares during the period. Dark Forest Capital Management LP purchased a new stake in TEGNA during the 3rd quarter worth about $540,000. Vanguard Group Inc. increased its holdings in TEGNA by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 24,582,211 shares of the company’s stock worth $358,163,000 after purchasing an additional 499,171 shares during the period. Finally, Gabelli Funds LLC increased its holdings in TEGNA by 3.4% during the 3rd quarter. Gabelli Funds LLC now owns 1,875,027 shares of the company’s stock worth $27,319,000 after purchasing an additional 62,173 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TGNA. JPMorgan Chase & Co. cut their price target on TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Wells Fargo & Company dropped their price objective on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. Finally, Benchmark dropped their price objective on TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, March 1st.

TEGNA Trading Down 0.3 %

TGNA opened at $13.68 on Wednesday. The business’s 50-day simple moving average is $14.26 and its 200-day simple moving average is $14.85. The company has a market cap of $2.41 billion, a P/E ratio of 6.07 and a beta of 0.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.48 and a current ratio of 2.48. TEGNA Inc. has a one year low of $13.18 and a one year high of $17.37.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The company had revenue of $725.80 million for the quarter, compared to analyst estimates of $750.78 million. During the same period in the previous year, the business posted $0.98 earnings per share. The firm’s revenue was down 20.9% compared to the same quarter last year. As a group, equities research analysts expect that TEGNA Inc. will post 3.05 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.114 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.46 annualized dividend and a dividend yield of 3.33%. TEGNA’s dividend payout ratio is currently 20.35%.

Insider Activity

In other news, CEO David T. Lougee sold 43,750 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the sale, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David T. Lougee sold 43,750 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David T. Lougee sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $15.21, for a total value of $2,281,500.00. Following the completion of the transaction, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at $9,677,545.02. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

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.