First Trust Advisors LP decreased its stake in shares of Tegna Inc (NYSE:TGNA) by 48.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,089 shares of the company’s stock after selling 294,692 shares during the quarter. First Trust Advisors LP’s holdings in Tegna were worth $4,352,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Evercore Trust Company N.A. acquired a new position in Tegna during the 3rd quarter valued at approximately $56,674,000. Schroder Investment Management Group increased its stake in Tegna by 80.1% during the 3rd quarter. Schroder Investment Management Group now owns 3,811,565 shares of the company’s stock valued at $51,228,000 after purchasing an additional 1,695,785 shares in the last quarter. Prudential Financial Inc. increased its stake in Tegna by 120.7% during the 3rd quarter. Prudential Financial Inc. now owns 3,099,576 shares of the company’s stock valued at $41,317,000 after purchasing an additional 1,695,312 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Tegna by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,995,907 shares of the company’s stock valued at $39,934,000 after purchasing an additional 38,480 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Tegna by 38.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,286,334 shares of the company’s stock valued at $32,192,000 after purchasing an additional 631,210 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.
In related news, COO Lynn B. Trelstad sold 3,112 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $12.85, for a total transaction of $39,989.20. Following the sale, the chief operating officer now directly owns 24,152 shares of the company’s stock, valued at $310,353.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.81% of the company’s stock.
Shares of Tegna Inc (NYSE TGNA) opened at $12.87 on Friday. The firm has a market cap of $2,753.25, a price-to-earnings ratio of 6.04, a PEG ratio of 6.07 and a beta of 1.55. Tegna Inc has a 52 week low of $11.59 and a 52 week high of $16.98. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 3.02.
Tegna (NYSE:TGNA) last released its quarterly earnings data on Thursday, March 1st. The company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $480.45 million for the quarter, compared to analyst estimates of $491.79 million. Tegna had a net margin of 20.74% and a return on equity of 19.56%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. research analysts forecast that Tegna Inc will post 1.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, March 8th. Tegna’s dividend payout ratio (DPR) is presently 13.15%.
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Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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