Nisa Investment Advisors LLC Sells 4,939 Shares of TEGNA Inc. (NYSE:TGNA)

Nisa Investment Advisors LLC cut its stake in shares of TEGNA Inc. (NYSE:TGNA) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,284 shares of the company’s stock after selling 4,939 shares during the quarter. Nisa Investment Advisors LLC’s holdings in TEGNA were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TGNA. US Bancorp DE grew its holdings in 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 acquiring an additional 2,581 shares during the last quarter. Bank of Montreal Can grew its holdings in 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 acquiring an additional 5,830 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in 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 acquiring an additional 7,732 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in 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 acquiring an additional 13,275 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in 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 acquiring an additional 6,586 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Up 0.6 %

Shares of NYSE TGNA opened at $13.48 on Wednesday. The company has a market capitalization of $2.37 billion, a P/E ratio of 5.96 and a beta of 0.50. TEGNA Inc. has a 52-week low of $13.18 and a 52-week high of $17.37. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.48 and a current ratio of 2.48. The company’s 50 day moving average price is $14.32 and its 200-day moving average price is $14.86.

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

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.114 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.46 annualized dividend and a dividend yield of 3.38%. TEGNA’s dividend payout ratio is presently 20.35%.

Insider Activity at TEGNA

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on TGNA shares. Benchmark dropped their price target 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. dropped 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 dropped 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 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.