TEGNA Inc. (NYSE:TGNA) Position Reduced by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its stake in shares of TEGNA Inc. (NYSE:TGNAFree Report) by 57.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,075 shares of the company’s stock after selling 61,854 shares during the quarter. Neuberger Berman Group LLC’s holdings in TEGNA were worth $705,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Outfitter Financial LLC boosted its stake in TEGNA by 1.9% during the 4th quarter. Outfitter Financial LLC now owns 47,750 shares of the company’s stock valued at $731,000 after acquiring an additional 900 shares during the last quarter. Parallel Advisors LLC boosted its stake 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 acquiring an additional 983 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in TEGNA by 0.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 381,086 shares of the company’s stock valued at $5,567,000 after acquiring an additional 987 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of TEGNA by 1.0% in the 4th quarter. New York State Common Retirement Fund now owns 108,212 shares of the company’s stock worth $1,656,000 after buying an additional 1,074 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted 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 buying an additional 1,145 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TGNA. Benchmark reduced their price target on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. JPMorgan Chase & Co. reduced their price target on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st.

Read Our Latest Stock Analysis on TEGNA

TEGNA Trading Down 2.0 %

Shares of NYSE:TGNA opened at $13.87 on Tuesday. The company has a market cap of $2.35 billion, a PE ratio of 4.85 and a beta of 0.51. The company’s 50-day moving average price is $14.29 and its 200 day moving average price is $14.75. TEGNA Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $17.37. 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 (NYSE:TGNAGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm had revenue of $714.30 million for the quarter, compared to the consensus estimate of $718.86 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. TEGNA’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. Sell-side analysts anticipate that TEGNA Inc. will post 3.11 earnings per share for the current year.

TEGNA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, June 7th. This is an increase from TEGNA’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a yield of 3.60%. TEGNA’s dividend payout ratio (DPR) is currently 17.48%.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $13.99, for a total value of $349,750.00. Following the sale, the chief operating officer now directly owns 190,474 shares in the company, valued at approximately $2,664,731.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction of $643,125.00. Following the transaction, the chief executive officer now owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $13.99, for a total transaction of $349,750.00. Following the transaction, the chief operating officer now directly owns 190,474 shares in the company, valued at approximately $2,664,731.26. The disclosure for this sale can be found here. Insiders have sold a total of 155,656 shares of company stock worth $2,339,970 in the last ninety days. 0.88% of the stock is owned by insiders.

TEGNA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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