Arizona State Retirement System Has $819,000 Holdings in TEGNA Inc. (NYSE:TGNA)

Arizona State Retirement System lessened its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,518 shares of the company’s stock after selling 961 shares during the period. Arizona State Retirement System’s holdings in TEGNA were worth $819,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Belpointe Asset Management LLC lifted its holdings in TEGNA by 189.5% in the first quarter. Belpointe Asset Management LLC now owns 1,459 shares of the company’s stock valued at $25,000 after buying an additional 955 shares during the period. Mascoma Wealth Management LLC acquired a new position in TEGNA in the third quarter valued at $33,000. Covestor Ltd lifted its holdings in TEGNA by 94.3% in the third quarter. Covestor Ltd now owns 2,741 shares of the company’s stock valued at $40,000 after buying an additional 1,330 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 3,276 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in TEGNA in the third quarter valued at $64,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Trading Down 1.6 %

TGNA opened at $13.26 on Thursday. TEGNA Inc. has a 1-year low of $13.18 and a 1-year high of $17.37. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. The company has a market cap of $2.34 billion, a P/E ratio of 5.87 and a beta of 0.50. The company has a fifty day moving average price of $14.30 and a two-hundred day moving average price of $14.85.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). TEGNA had a net margin of 16.38% and a return on equity of 12.41%. The company had revenue of $725.80 million during the quarter, compared to the consensus estimate of $750.78 million. During the same period last year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was down 20.9% on a year-over-year basis. Analysts predict that TEGNA Inc. will post 3.05 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a dividend of $0.114 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA’s payout ratio is presently 20.35%.

Analyst Ratings Changes

Several research firms recently issued reports on TGNA. Benchmark dropped their target price on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Finally, Wells Fargo & Company dropped their target price on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th.

Insider Transactions at TEGNA

In other news, CEO David T. Lougee sold 43,750 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction of $643,125.00. Following the completion of the sale, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO David T. Lougee sold 150,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the completion of the sale, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at $9,677,545.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David T. Lougee sold 43,750 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $14.70, for a total transaction of $643,125.00. Following the sale, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

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.