Mercer Global Advisors Inc. ADV Decreases Stake in TEGNA Inc. (NYSE:TGNA)

Mercer Global Advisors Inc. ADV lessened its stake in shares of TEGNA Inc. (NYSE:TGNA) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,089 shares of the company’s stock after selling 1,736 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in TEGNA were worth $294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in TEGNA by 142.1% during the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after buying an additional 983 shares during the period. CWM LLC boosted its holdings in shares of TEGNA by 389.0% during the first 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 period. Fidelis Capital Partners LLC bought a new stake in shares of TEGNA in the first quarter worth about $28,000. Headlands Technologies LLC purchased a new position in TEGNA during the 1st quarter valued at about $46,000. Finally, Blue Trust Inc. raised its position in TEGNA by 247.8% during the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after purchasing an additional 3,350 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.

Insider Transactions at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.88, for a total transaction of $347,000.00. Following the sale, the chief operating officer now owns 179,617 shares of the company’s stock, valued at $2,493,083.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and set a $21.00 target price on shares of TEGNA in a research note on Thursday, August 8th.

TEGNA Price Performance

Shares of NYSE TGNA opened at $15.74 on Monday. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $16.56. The stock has a market capitalization of $2.67 billion, a P/E ratio of 5.50 and a beta of 0.49. The company’s 50-day moving average is $14.52 and its 200 day moving average is $14.34. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.58 and a quick ratio of 2.58.

TEGNA (NYSE:TGNA) last announced its earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm had revenue of $710.36 million during the quarter, compared to analyst estimates of $715.40 million. During the same quarter in the prior year, the company earned $0.44 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts expect that TEGNA Inc. will post 3.07 earnings per share for the current year.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, September 6th. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

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.