DekaBank Deutsche Girozentrale Boosts Stock Holdings in TEGNA Inc. (NYSE:TGNA)

DekaBank Deutsche Girozentrale raised its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 22.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 467,656 shares of the company’s stock after purchasing an additional 86,604 shares during the period. DekaBank Deutsche Girozentrale’s holdings in TEGNA were worth $6,920,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGNA. Stratos Wealth Advisors LLC grew its position in shares of TEGNA by 2.0% in the 4th quarter. Stratos Wealth Advisors LLC now owns 77,811 shares of the company’s stock worth $1,191,000 after buying an additional 1,517 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in TEGNA by 30.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 75,314 shares of the company’s stock worth $1,152,000 after purchasing an additional 17,515 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in TEGNA during the 4th quarter worth approximately $846,000. Signaturefd LLC grew its position in TEGNA by 437.5% during the 4th quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock worth $148,000 after purchasing an additional 7,884 shares during the last quarter. Finally, Foster & Motley Inc. grew its position in TEGNA by 89.3% during the 4th quarter. Foster & Motley Inc. now owns 22,208 shares of the company’s stock worth $340,000 after purchasing an additional 10,477 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Stock Performance

NYSE:TGNA traded down $0.47 during trading hours on Friday, hitting $15.10. 1,360,355 shares of the company were exchanged, compared to its average volume of 1,772,241. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 5.28 and a beta of 0.51. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $17.37. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.53 and a quick ratio of 2.53. The company’s 50 day moving average price is $14.48 and its 200-day moving average price is $14.52.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The business had revenue of $714.30 million during the quarter, compared to analysts’ expectations of $718.86 million. During the same period in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, research analysts forecast that TEGNA Inc. will post 3.11 earnings per share for the current year.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, September 6th. TEGNA’s payout ratio is 17.48%.

Insider Buying and Selling at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $13.99, for a total transaction of $349,750.00. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. In related news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $13.99, for a total value of $349,750.00. Following the completion of the transaction, the chief operating officer now directly owns 190,474 shares in the company, valued at approximately $2,664,731.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David T. Lougee sold 98,437 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the completion of the transaction, the chief executive officer now owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,343 shares of company stock worth $3,072,994. Company insiders own 0.88% of the company’s stock.

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.