Federated Hermes Inc. Sells 3,630 Shares of TEGNA Inc. (NYSE:TGNA)

Federated Hermes Inc. lessened its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 11.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,779 shares of the company’s stock after selling 3,630 shares during the quarter. Federated Hermes Inc.’s holdings in TEGNA were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TGNA. Vanguard Group Inc. lifted its stake in shares of TEGNA by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 24,582,211 shares of the company’s stock valued at $358,163,000 after buying an additional 499,171 shares in the last quarter. Boston Partners boosted its stake in shares of TEGNA by 4.4% in the third quarter. Boston Partners now owns 10,574,902 shares of the company’s stock worth $154,046,000 after acquiring an additional 445,464 shares during the period. LSV Asset Management grew its position in shares of TEGNA by 10.0% during the third quarter. LSV Asset Management now owns 4,668,419 shares of the company’s stock worth $68,019,000 after purchasing an additional 424,579 shares in the last quarter. AQR Capital Management LLC raised its stake in TEGNA by 190.5% during the 3rd quarter. AQR Capital Management LLC now owns 3,224,755 shares of the company’s stock valued at $46,985,000 after purchasing an additional 2,114,826 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in TEGNA by 2.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,415,296 shares of the company’s stock worth $35,191,000 after purchasing an additional 58,870 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

TEGNA Price Performance

TGNA stock opened at $14.17 on Friday. TEGNA Inc. has a 52 week low of $13.18 and a 52 week high of $17.37. The firm has a market capitalization of $2.50 billion, a P/E ratio of 6.27 and a beta of 0.50. The company has a fifty day simple moving average of $14.13 and a two-hundred day simple moving average of $14.82. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.14.

TEGNA (NYSE:TGNA) last announced 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 business had revenue of $725.80 million for 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 firm’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. Analysts anticipate that TEGNA Inc. will post 3.14 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.114 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA’s dividend payout ratio (DPR) is 19.91%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TGNA. JPMorgan Chase & Co. dropped their target price on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Benchmark dropped their price objective on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Wells Fargo & Company reduced their target price on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th.

Insider Transactions at TEGNA

In other TEGNA news, CEO David T. Lougee sold 43,750 shares of TEGNA 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 directly 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 can be accessed through this link. In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 725,651 shares in the company, valued at $10,667,069.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 in the company, valued at $9,677,545.02. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

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.