TEGNA Inc. (NYSE:TGNA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in TEGNA Inc. (NYSE:TGNA) by 35.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,516 shares of the company’s stock after selling 72,996 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of TEGNA worth $1,819,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TGNA. Norges Bank acquired a new stake in TEGNA in the fourth quarter valued at $38,009,000. Corient Private Wealth LLC increased its position in shares of TEGNA by 519.0% in the fourth quarter. Corient Private Wealth LLC now owns 63,564 shares of the company’s stock valued at $973,000 after buying an additional 53,296 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of TEGNA by 32.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock valued at $74,000 after buying an additional 1,180 shares in the last quarter. Parallel Advisors LLC increased its position in shares of TEGNA by 142.1% in the fourth quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after buying an additional 983 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of TEGNA by 15.5% in the fourth quarter. Allianz Asset Management GmbH now owns 505,674 shares of the company’s stock valued at $7,737,000 after buying an additional 67,726 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a “buy” rating and issued a $21.00 price target on shares of TEGNA in a research report on Thursday, August 8th.

Insider Buying and Selling

In other TEGNA news, CEO David T. Lougee sold 98,437 shares of TEGNA stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $13.98, for a total value of $1,376,149.26. Following the completion of the sale, the chief executive officer now owns 594,401 shares in the company, valued at approximately $8,309,725.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other TEGNA news, CEO David T. Lougee sold 98,437 shares of TEGNA stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $13.98, for a total value of $1,376,149.26. Following the completion of the sale, the chief executive officer now owns 594,401 shares in the company, valued at approximately $8,309,725.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the completion of the sale, the chief operating officer now owns 179,617 shares of the company’s stock, valued at approximately $2,493,083.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,467 shares of company stock worth $1,723,563. 0.88% of the stock is owned by corporate insiders.

TEGNA Trading Down 2.4 %

TEGNA stock opened at $14.79 on Tuesday. The stock has a market cap of $2.51 billion, a PE ratio of 5.17 and a beta of 0.49. The stock has a 50-day moving average price of $14.57 and a 200 day moving average price of $14.33. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $16.56. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $710.36 million during the quarter, compared to analysts’ expectations of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Equities research analysts predict that TEGNA Inc. will post 3.07 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, September 6th. TEGNA’s dividend payout ratio is presently 17.48%.

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.