TEGNA Inc. (NYSE:TGNA) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC trimmed its stake in TEGNA Inc. (NYSE:TGNA) by 10.2% during the second quarter, HoldingsChannel.com reports. The fund owned 27,980 shares of the company’s stock after selling 3,166 shares during the period. Natixis Advisors LLC’s holdings in TEGNA were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parallel Advisors LLC boosted 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 worth $26,000 after buying an additional 983 shares during the period. CWM LLC grew its stake in TEGNA by 389.0% in the first quarter. CWM LLC now owns 1,873 shares of the company’s stock valued at $28,000 after purchasing an additional 1,490 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in TEGNA in the first quarter valued at about $28,000. Headlands Technologies LLC purchased a new position in TEGNA in the first quarter valued at about $46,000. Finally, Blue Trust Inc. grew its stake in TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after purchasing an additional 3,350 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Insider Buying and Selling

In related news, CEO David T. Lougee sold 98,437 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was 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 approximately $8,309,725.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 98,467 shares of company stock valued at $1,376,563. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

TEGNA Stock Performance

TGNA opened at $14.29 on Friday. The company has a market cap of $2.36 billion, a PE ratio of 5.00 and a beta of 0.49. The stock has a 50-day moving average of $14.51 and a 200-day moving average of $14.28. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $16.56. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $710.36 million during the quarter, compared to the consensus estimate of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 EPS. As a group, equities research analysts forecast that TEGNA Inc. will post 3.07 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 annualized dividend and a dividend yield of 3.50%. TEGNA’s dividend payout ratio is presently 17.48%.

TEGNA Company 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.