Robeco Institutional Asset Management B.V. Decreases Position in TEGNA Inc. (NYSE:TGNA)

Robeco Institutional Asset Management B.V. trimmed its position in shares of TEGNA Inc. (NYSE:TGNAFree Report) by 6.5% during the fourth quarter, Holdings Channel reports. The firm owned 82,274 shares of the company’s stock after selling 5,726 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in TEGNA were worth $1,259,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd boosted its position in TEGNA by 94.3% during the third quarter. Covestor Ltd now owns 2,741 shares of the company’s stock worth $40,000 after purchasing an additional 1,330 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of TEGNA by 925.4% in the third quarter. EverSource Wealth Advisors LLC now owns 3,630 shares of the company’s stock valued at $53,000 after acquiring an additional 3,276 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of TEGNA by 34.4% in the third quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock valued at $65,000 after acquiring an additional 1,145 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of TEGNA in the third quarter valued at $97,000. Finally, Signaturefd LLC lifted its position in shares of TEGNA by 437.5% in the fourth quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock valued at $148,000 after acquiring an additional 7,884 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TEGNA news, SVP Clifton A. Mcclelland III sold 54,093 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the sale, the senior vice president now directly owns 42,602 shares in the company, valued at $672,259.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TEGNA news, SVP Clifton A. Mcclelland III sold 54,093 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the sale, the senior vice president now directly owns 42,602 shares in the company, valued at $672,259.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David T. Lougee sold 43,750 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $14.70, for a total value of $643,125.00. Following the sale, the chief executive officer now owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The disclosure for this sale can be found here. Insiders sold 130,656 shares of company stock worth $1,990,220 over the last three months. 0.88% of the stock is owned by insiders.

TEGNA Stock Performance

TEGNA stock opened at $14.43 on Thursday. The firm has a market capitalization of $2.45 billion, a P/E ratio of 5.04 and a beta of 0.50. The stock has a fifty day moving average price of $14.33 and a 200 day moving average price of $14.87. TEGNA Inc. has a 52 week low of $13.18 and a 52 week high of $17.37. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.10.

TEGNA (NYSE:TGNAGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm had revenue of $714.30 million during the quarter, compared to analyst estimates of $718.86 million. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Equities research analysts anticipate that TEGNA Inc. will post 3.11 earnings per share for the current year.

TEGNA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from TEGNA’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a yield of 3.47%. TEGNA’s dividend payout ratio is currently 16.08%.

Wall Street Analyst Weigh In

TGNA has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Benchmark reduced their price objective on TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, Wells Fargo & Company dropped their target price on TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th.

Check Out Our Latest Stock Report on TEGNA

About TEGNA

(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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