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

IFP Advisors Inc lessened its holdings in shares of TEGNA Inc. (NYSE:TGNA – Get Rating) by 37.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,975 shares of the company’s stock after selling 4,147 shares during the period. IFP Advisors Inc’s holdings in TEGNA were worth $86,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in TEGNA by 27,586.2% during the fourth quarter. International Assets Investment Management LLC now owns 24,087 shares of the company’s stock worth $25,000 after acquiring an additional 24,000 shares during the period. EverSource Wealth Advisors LLC acquired a new position in TEGNA during the third quarter worth $27,000. Spire Wealth Management grew its holdings in TEGNA by 402.8% during the third quarter. Spire Wealth Management now owns 2,152 shares of the company’s stock worth $44,000 after acquiring an additional 1,724 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in TEGNA in the fourth quarter valued at $53,000. Finally, Bessemer Group Inc. grew its holdings in TEGNA by 28.8% in the third quarter. Bessemer Group Inc. now owns 3,496 shares of the company’s stock valued at $72,000 after purchasing an additional 781 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TGNA. Wells Fargo & Company lowered their target price on TEGNA from $20.00 to $18.00 in a report on Tuesday, March 28th. StockNews.com began coverage on TEGNA in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Benchmark lowered their target price on TEGNA from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 12th. Finally, Guggenheim lowered their target price on TEGNA from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

TEGNA Stock Up 0.6 %

TGNA opened at $16.10 on Tuesday. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 1.00. The firm has a market cap of $3.62 billion, a P/E ratio of 6.03 and a beta of 0.60. TEGNA Inc. has a 52 week low of $15.09 and a 52 week high of $22.29. The business’s fifty day simple moving average is $16.37 and its 200 day simple moving average is $18.69.

TEGNA (NYSE:TGNA – Get Rating) last posted its quarterly earnings data on Monday, February 27th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The business had revenue of $917.30 million for the quarter, compared to analyst estimates of $944.90 million. TEGNA had a return on equity of 22.51% and a net margin of 19.23%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. As a group, equities research analysts anticipate that TEGNA Inc. will post 1.75 EPS for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be given a dividend of $0.095 per share. The ex-dividend date is Thursday, June 8th. This represents a $0.38 annualized dividend and a yield of 2.36%. TEGNA’s dividend payout ratio (DPR) is presently 14.23%.

About TEGNA

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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.