39,698 Shares in TEGNA Inc. (NYSE:TGNA) Purchased by SG Americas Securities LLC

SG Americas Securities LLC acquired a new position in shares of TEGNA Inc. (NYSE:TGNA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 39,698 shares of the company’s stock, valued at approximately $626,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in TEGNA by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company’s stock worth $387,502,000 after acquiring an additional 744,721 shares during the period. Seven Eight Capital LP acquired a new stake in TEGNA during the first quarter worth about $2,526,000. Mirae Asset Global Investments Co. Ltd. raised its stake in TEGNA by 122.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company’s stock worth $3,564,000 after acquiring an additional 123,249 shares during the period. Dimensional Fund Advisors LP raised its stake in TEGNA by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock worth $143,714,000 after acquiring an additional 141,638 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in TEGNA by 26.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,330,866 shares of the company’s stock worth $35,662,000 after purchasing an additional 484,658 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 179,617 shares in the company, valued at $2,493,083.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

TEGNA Price Performance

NYSE TGNA opened at $16.10 on Tuesday. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $16.56. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 5.63 and a beta of 0.50. The company has a 50-day moving average price of $14.51 and a two-hundred day moving average price of $14.43.

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. The firm had revenue of $710.36 million during the quarter, compared to analysts’ expectations of $715.40 million. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. TEGNA’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. Analysts forecast that TEGNA Inc. will post 3.07 EPS for the current year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, September 6th. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

About TEGNA

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.