Creative Planning Decreases Stake in TEGNA Inc. (NYSE:TGNA)

Creative Planning reduced its position in TEGNA Inc. (NYSE:TGNA) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 48,048 shares of the company’s stock after selling 1,284 shares during the period. Creative Planning’s holdings in TEGNA were worth $670,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised its position in shares of TEGNA by 389.0% in the first quarter. CWM LLC now owns 1,873 shares of the company’s stock valued at $28,000 after purchasing an additional 1,490 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of TEGNA during the first quarter worth $28,000. Headlands Technologies LLC bought a new position in shares of TEGNA in the first quarter worth $46,000. Blue Trust Inc. boosted its holdings in shares of TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock worth $70,000 after acquiring an additional 3,350 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of TEGNA in the second quarter valued at $116,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

TEGNA Stock Up 2.3 %

Shares of NYSE:TGNA opened at $16.07 on Friday. The firm has a fifty day moving average price of $14.47 and a two-hundred day moving average price of $14.42. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 5.62 and a beta of 0.50. 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 Inc. has a one year low of $12.35 and a one year high of $16.56.

TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, August 7th. The company reported $0.50 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 business had revenue of $710.36 million during the quarter, compared to analysts’ expectations of $715.40 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. Analysts anticipate that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, September 6th. TEGNA’s dividend payout ratio is currently 17.48%.

Insider Buying and Selling at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the transaction, the chief operating officer now owns 179,617 shares of the company’s stock, valued at $2,493,083.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by company insiders.

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.