LSV Asset Management Boosts Stake in TEGNA Inc. (NYSE:TGNA)

LSV Asset Management grew its stake in shares of TEGNA Inc. (NYSE:TGNA) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,449,571 shares of the company’s stock after buying an additional 781,152 shares during the period. LSV Asset Management’s holdings in TEGNA were worth $83,378,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TGNA. Muhlenkamp & Co. Inc. boosted its position in TEGNA by 106.0% during the third quarter. Muhlenkamp & Co. Inc. now owns 431,541 shares of the company’s stock worth $6,288,000 after acquiring an additional 222,103 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of TEGNA in the third quarter valued at $540,000. Vanguard Group Inc. increased its stake in TEGNA by 2.1% in the third quarter. Vanguard Group Inc. now owns 24,582,211 shares of the company’s stock valued at $358,163,000 after purchasing an additional 499,171 shares during the last quarter. Gabelli Funds LLC lifted its position in TEGNA by 3.4% during the third quarter. Gabelli Funds LLC now owns 1,875,027 shares of the company’s stock worth $27,319,000 after buying an additional 62,173 shares during the period. Finally, UBS Group AG boosted its stake in TEGNA by 135.0% in the 3rd quarter. UBS Group AG now owns 189,443 shares of the company’s stock worth $2,760,000 after buying an additional 108,825 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the transaction, the chief executive officer now owns 725,651 shares in the company, valued at approximately $10,667,069.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $14.70, for a total value of $643,125.00. Following the transaction, the chief executive officer now owns 725,651 shares in the company, valued at approximately $10,667,069.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David T. Lougee sold 150,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the completion of the transaction, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at $9,677,545.02. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on TGNA shares. Benchmark dropped their price objective on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, March 1st. JPMorgan Chase & Co. cut their price target on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Finally, Wells Fargo & Company lowered their price objective on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th.

TEGNA Trading Up 0.1 %

Shares of NYSE:TGNA traded up $0.02 during trading on Friday, reaching $14.17. 1,053,654 shares of the stock were exchanged, compared to its average volume of 1,472,909. The firm’s 50-day moving average price is $14.13 and its 200 day moving average price is $14.82. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 6.27 and a beta of 0.50. TEGNA Inc. has a 12-month low of $13.18 and a 12-month high of $17.37. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.48 and a current ratio of 2.48.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.04). TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The business had revenue of $725.80 million for the quarter, compared to analysts’ expectations of $750.78 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. TEGNA’s quarterly revenue was down 20.9% compared to the same quarter last year. On average, sell-side analysts anticipate that TEGNA Inc. will post 3.14 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.114 dividend. This represents a $0.46 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA’s dividend payout ratio (DPR) is presently 20.35%.

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.