TEGNA Inc. (NYSE:TGNA) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its stake in TEGNA Inc. (NYSE:TGNA) by 7.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,994 shares of the company’s stock after buying an additional 1,239 shares during the quarter. Sanctuary Advisors LLC’s holdings in TEGNA were worth $284,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of TEGNA during the third quarter valued at approximately $28,000. Headlands Technologies LLC increased its position in shares of TEGNA by 48.2% during the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock worth $63,000 after purchasing an additional 1,470 shares in the last quarter. Quarry LP increased its position in shares of TEGNA by 455.2% during the third quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after purchasing an additional 3,300 shares in the last quarter. US Bancorp DE raised its stake in TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after purchasing an additional 764 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in TEGNA in the 3rd quarter valued at $133,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Stock Down 0.9 %

NYSE TGNA opened at $18.38 on Friday. The business’s fifty day simple moving average is $17.97 and its 200-day simple moving average is $15.76. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a market cap of $2.96 billion, a PE ratio of 6.49 and a beta of 0.52. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $806.83 million during the quarter, compared to analysts’ expectations of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. TEGNA’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. As a group, equities analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, December 6th. TEGNA’s payout ratio is presently 17.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Benchmark upped their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Finally, StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a report on Friday, December 13th.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the completion of the sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at approximately $2,535,718.80. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.

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.