Universal Beteiligungs und Servicegesellschaft mbH Sells 119,201 Shares of TEGNA Inc. $TGNA

Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in shares of TEGNA Inc. (NYSE:TGNA) by 27.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,285 shares of the company’s stock after selling 119,201 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.20% of TEGNA worth $5,301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its position in TEGNA by 48.7% in the 1st quarter. Public Sector Pension Investment Board now owns 596,868 shares of the company’s stock valued at $10,875,000 after purchasing an additional 195,396 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of TEGNA in the first quarter valued at about $5,371,000. Deutsche Bank AG lifted its position in TEGNA by 383.6% during the 1st quarter. Deutsche Bank AG now owns 756,941 shares of the company’s stock worth $13,791,000 after buying an additional 600,407 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in TEGNA during the 1st quarter worth about $405,000. Finally, FORA Capital LLC acquired a new stake in TEGNA in the 1st quarter valued at about $228,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Trading Up 1.6%

NYSE TGNA opened at $19.97 on Friday. TEGNA Inc. has a 12 month low of $14.87 and a 12 month high of $21.35. The stock has a 50-day simple moving average of $20.16 and a 200 day simple moving average of $18.68. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.22 billion, a PE ratio of 7.18 and a beta of 0.25.

TEGNA (NYSE:TGNA) last issued its earnings results on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $650.79 million for the quarter, compared to the consensus estimate of $658.28 million. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.TEGNA’s quarterly revenue was down 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. Research analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be given a $0.125 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. TEGNA’s dividend payout ratio is currently 23.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TGNA shares. Guggenheim reiterated a “neutral” rating and set a $19.00 target price on shares of TEGNA in a research report on Friday, August 22nd. Zacks Research cut shares of TEGNA from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Wells Fargo & Company lowered TEGNA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of TEGNA in a report on Monday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.75.

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.