TEGNA Inc. (NYSE:TGNA) Shares Sold by Natixis Advisors L.P.

Natixis Advisors L.P. cut its holdings in TEGNA Inc. (NYSE:TGNAFree Report) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 406,956 shares of the company’s stock after selling 13,307 shares during the period. Natixis Advisors L.P. owned 0.21% of TEGNA worth $5,930,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LSV Asset Management lifted its stake in TEGNA by 10.0% during the third 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 in the last quarter. Dark Forest Capital Management LP acquired a new position in TEGNA during the third quarter worth $540,000. Gabelli Funds LLC lifted its stake in TEGNA by 3.4% during the third 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 in the last quarter. Teacher Retirement System of Texas lifted its stake in TEGNA by 152.9% during the third quarter. Teacher Retirement System of Texas now owns 537,092 shares of the company’s stock worth $7,825,000 after purchasing an additional 324,724 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in TEGNA by 6.1% during the third quarter. California Public Employees Retirement System now owns 1,260,801 shares of the company’s stock worth $18,370,000 after purchasing an additional 72,469 shares in the last quarter. 89.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price target on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. JPMorgan Chase & Co. decreased their price target on TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Benchmark decreased their price target on TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday.

Read Our Latest Analysis on TGNA

TEGNA Stock Down 2.5 %

TEGNA stock opened at $13.66 on Friday. TEGNA Inc. has a twelve month low of $13.40 and a twelve month high of $17.37. The stock’s fifty day simple moving average is $15.08 and its 200-day simple moving average is $15.21. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $2.69 billion, a P/E ratio of 6.04 and a beta of 0.50.

TEGNA (NYSE:TGNAGet Free Report) 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 12.10% and a net margin of 16.38%. The company had revenue of $725.80 million for the quarter, compared to analysts’ expectations of $750.78 million. During the same period in the prior year, the company posted $0.98 EPS. The firm’s revenue was down 20.9% compared to the same quarter last year. As a group, equities analysts expect that TEGNA Inc. will post 3.29 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be issued a $0.114 dividend. This represents a $0.46 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Thursday, March 7th. TEGNA’s dividend payout ratio (DPR) is presently 20.35%.

Insider Activity at TEGNA

In related news, CEO David T. Lougee sold 150,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $15.21, for a total value of $2,281,500.00. Following the transaction, the chief executive officer now owns 636,262 shares of the company’s stock, valued at $9,677,545.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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