State of Alaska Department of Revenue Has $333,000 Stock Position in TEGNA Inc. (NYSE:TGNA)

State of Alaska Department of Revenue lowered its stake in TEGNA Inc. (NYSE:TGNA) by 9.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,790 shares of the company’s stock after selling 2,330 shares during the period. State of Alaska Department of Revenue’s holdings in TEGNA were worth $333,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TGNA. US Bancorp DE grew its position in shares of TEGNA by 81.5% during the 1st quarter. US Bancorp DE now owns 5,749 shares of the company’s stock worth $129,000 after purchasing an additional 2,581 shares in the last quarter. Bank of Montreal Can grew its position in shares of TEGNA by 16.8% during the 1st quarter. Bank of Montreal Can now owns 40,458 shares of the company’s stock worth $912,000 after purchasing an additional 5,830 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of TEGNA by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 81,097 shares of the company’s stock worth $1,817,000 after purchasing an additional 7,732 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of TEGNA by 11.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 132,537 shares of the company’s stock worth $3,057,000 after purchasing an additional 13,275 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of TEGNA by 5.7% during the 1st quarter. Yousif Capital Management LLC now owns 122,229 shares of the company’s stock worth $2,738,000 after purchasing an additional 6,586 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Insider Activity at TEGNA

In related news, 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 transaction, the chief executive officer now owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO David T. Lougee sold 43,750 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David T. Lougee sold 150,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at approximately $9,677,545.02. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

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

TEGNA Stock Performance

NYSE TGNA opened at $13.60 on Friday. 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 firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 6.02 and a beta of 0.50. The firm’s 50 day simple moving average is $14.40 and its 200 day simple moving average is $14.88. TEGNA Inc. has a 1 year low of $13.40 and a 1 year high of $17.37.

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

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were paid a $0.114 dividend. This represents a $0.46 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA’s payout ratio is 20.35%.

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.