TEGNA Inc. (NYSE:TGNA) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in TEGNA Inc. (NYSE:TGNA) by 30.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,314 shares of the company’s stock after purchasing an additional 17,515 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TEGNA were worth $1,152,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TGNA. DekaBank Deutsche Girozentrale boosted its stake in shares of TEGNA by 0.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 381,086 shares of the company’s stock worth $5,567,000 after buying an additional 987 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake 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 worth $65,000 after buying an additional 1,145 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of TEGNA by 11.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,386 shares of the company’s stock worth $182,000 after buying an additional 1,267 shares during the last quarter. Covestor Ltd boosted its stake in shares of TEGNA by 94.3% in the third quarter. Covestor Ltd now owns 2,741 shares of the company’s stock worth $40,000 after buying an additional 1,330 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of TEGNA by 7.0% in the third quarter. Tower Research Capital LLC TRC now owns 22,348 shares of the company’s stock worth $326,000 after buying an additional 1,464 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Performance

Shares of TGNA stock opened at $13.72 on Wednesday. The company has a market capitalization of $2.42 billion, a P/E ratio of 6.07 and a beta of 0.50. The business’s 50 day moving average is $14.26 and its two-hundred day moving average is $14.85. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. TEGNA Inc. has a 12-month low of $13.18 and a 12-month high of $17.37.

TEGNA (NYSE:TGNA) last released its 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). The firm had revenue of $725.80 million during the quarter, compared to analysts’ expectations of $750.78 million. TEGNA had a net margin of 16.38% and a return on equity of 12.41%. The business’s revenue was down 20.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. Analysts expect that TEGNA Inc. will post 3.05 EPS for the current fiscal year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.114 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.46 annualized dividend and a dividend yield of 3.32%. TEGNA’s dividend payout ratio (DPR) is presently 20.35%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their price target on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. JPMorgan Chase & Co. lowered their price target on TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Finally, Benchmark lowered their price target on TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 1st.

Insider Activity

In other news, CEO David T. Lougee sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $15.21, for a total value of $2,281,500.00. Following the transaction, the chief executive officer now owns 636,262 shares in the company, valued at $9,677,545.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO David T. Lougee sold 150,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $15.21, for a total value of $2,281,500.00. Following the completion of the sale, the chief executive officer now 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 through the SEC website. Also, CEO David T. Lougee sold 43,750 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $14.70, for a total value 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 approximately $10,667,069.70. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

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.