Algert Global LLC Has $1.09 Million Stake in TEGNA Inc. (NYSE:TGNA)

Algert Global LLC trimmed its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 49.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,132 shares of the company’s stock after selling 67,660 shares during the period. Algert Global LLC’s holdings in TEGNA were worth $1,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TGNA. Principal Financial Group Inc. increased its stake in shares of TEGNA by 26.2% in the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock valued at $14,068,000 after buying an additional 184,845 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TEGNA by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock valued at $143,714,000 after buying an additional 141,638 shares during the period. Capital Management Corp VA increased its stake in shares of TEGNA by 30.3% in the 3rd quarter. Capital Management Corp VA now owns 725,805 shares of the company’s stock valued at $11,453,000 after buying an additional 168,667 shares during the period. SG Americas Securities LLC acquired a new stake in shares of TEGNA in the 3rd quarter valued at $626,000. Finally, Tidal Investments LLC increased its stake in shares of TEGNA by 48.6% in the 1st quarter. Tidal Investments LLC now owns 125,504 shares of the company’s stock valued at $1,871,000 after buying an additional 41,034 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Performance

TGNA stock opened at $18.65 on Friday. The business’s 50-day moving average price is $16.71 and its two-hundred day moving average price is $15.17. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a market cap of $3.00 billion, a PE ratio of 6.59 and a beta of 0.49. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62.

TEGNA (NYSE:TGNA) last posted its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, research analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, December 6th. TEGNA’s dividend payout ratio is 17.67%.

Analyst Upgrades and Downgrades

TGNA has been the subject of several research reports. Benchmark lifted their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Finally, JPMorgan Chase & Co. raised their price target on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th.

Insider Activity at TEGNA

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

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.