Miller Howard Investments Inc. NY Grows Holdings in TEGNA Inc. (NYSE:TGNA)

Miller Howard Investments Inc. NY increased its position in shares of TEGNA Inc. (NYSE:TGNA) by 47.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,305 shares of the company’s stock after buying an additional 13,202 shares during the period. Miller Howard Investments Inc. NY’s holdings in TEGNA were worth $617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in TEGNA by 142.1% during the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock worth $26,000 after buying an additional 983 shares during the period. CWM LLC increased its position in shares of TEGNA by 389.0% in the 1st quarter. CWM LLC now owns 1,873 shares of the company’s stock worth $28,000 after purchasing an additional 1,490 shares during the last quarter. Covestor Ltd increased its position in shares of TEGNA by 94.3% in the 3rd quarter. Covestor Ltd now owns 2,741 shares of the company’s stock worth $40,000 after purchasing an additional 1,330 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of TEGNA by 34.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock worth $65,000 after purchasing an additional 1,145 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of TEGNA by 32.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock worth $74,000 after purchasing an additional 1,180 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Benchmark dropped their target price on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, March 1st.

Insider Buying and Selling at TEGNA

In other TEGNA news, SVP Clifton A. Mcclelland III sold 54,093 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the transaction, the senior vice president now directly owns 42,602 shares of the company’s stock, valued at approximately $672,259.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $13.99, for a total value of $349,750.00. Following the completion of the sale, the chief operating officer now directly owns 190,474 shares of the company’s stock, valued at approximately $2,664,731.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Clifton A. Mcclelland III sold 54,093 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the sale, the senior vice president now directly owns 42,602 shares of the company’s stock, valued at $672,259.56. The disclosure for this sale can be found here. Insiders sold 155,656 shares of company stock valued at $2,339,970 in the last ninety days. Company insiders own 0.88% of the company’s stock.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $13.69 on Tuesday. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $17.37. The firm has a 50-day simple moving average of $14.12 and a 200 day simple moving average of $14.59. The company has a market cap of $2.32 billion, a PE ratio of 4.79 and a beta of 0.51.

TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $714.30 million during the quarter, compared to analyst estimates of $718.86 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. TEGNA’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. On average, sell-side analysts anticipate that TEGNA Inc. will post 3.11 EPS for the current year.

TEGNA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.65%. This is a positive change from TEGNA’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, June 7th. TEGNA’s payout ratio is presently 17.48%.

TEGNA Company 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.