Clark Estates Inc. NY Sells 14,500 Shares of TEGNA Inc. (NYSE:TGNA)

Clark Estates Inc. NY decreased its holdings in TEGNA Inc. (NYSE:TGNA) by 7.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,350 shares of the company’s stock after selling 14,500 shares during the quarter. Clark Estates Inc. NY owned about 0.11% of TEGNA worth $2,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGNA. Russell Investments Group Ltd. raised its holdings in shares of TEGNA by 52.6% in the first quarter. Russell Investments Group Ltd. now owns 43,031 shares of the company’s stock worth $643,000 after buying an additional 14,838 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in TEGNA by 0.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,994 shares of the company’s stock valued at $2,537,000 after acquiring an additional 1,489 shares during the period. Quadrature Capital Ltd acquired a new stake in TEGNA during the 1st quarter worth about $190,000. Price T Rowe Associates Inc. MD grew its stake in shares of TEGNA by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 147,121 shares of the company’s stock worth $2,198,000 after purchasing an additional 6,749 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in TEGNA in the first quarter valued at $155,000. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Benchmark increased their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday.

TEGNA Trading Down 0.2 %

Shares of TGNA opened at $18.91 on Wednesday. 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 50-day moving average price of $16.55 and a 200 day moving average price of $15.12. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The firm has a market capitalization of $3.05 billion, a P/E ratio of 6.68 and a beta of 0.49.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, December 6th. TEGNA’s dividend payout ratio (DPR) is presently 17.67%.

Insider Activity at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the transaction, the chief operating officer now owns 154,617 shares of the company’s stock, valued at approximately $2,535,718.80. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by 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.