Corient Private Wealth LLC Has $973,000 Position in TEGNA Inc. (NYSE:TGNA)

Corient Private Wealth LLC raised its stake in TEGNA Inc. (NYSE:TGNAFree Report) by 519.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,564 shares of the company’s stock after purchasing an additional 53,296 shares during the period. Corient Private Wealth LLC’s holdings in TEGNA were worth $973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd increased its holdings in shares of TEGNA by 94.3% in the third quarter. Covestor Ltd now owns 2,741 shares of the company’s stock valued at $40,000 after purchasing an additional 1,330 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of TEGNA by 34.4% in the third quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock valued at $65,000 after acquiring an additional 1,145 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of TEGNA in the third quarter valued at about $97,000. Signaturefd LLC grew its stake in shares of TEGNA by 437.5% in the fourth quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock valued at $148,000 after acquiring an additional 7,884 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of TEGNA in the fourth quarter valued at about $153,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on TGNA. JPMorgan Chase & Co. decreased their price target on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Benchmark decreased their price target on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Finally, Wells Fargo & Company decreased 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 note on Friday, February 9th.

View Our Latest Analysis on TEGNA

Insider Transactions at TEGNA

In other news, SVP Clifton A. Mcclelland III sold 54,093 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total value of $853,587.54. Following the completion of the transaction, the senior vice president now owns 42,602 shares of the company’s stock, valued at $672,259.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David T. Lougee sold 32,813 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.04, for a total value of $493,507.52. Following the completion of the transaction, the chief executive officer now owns 692,838 shares in the company, valued at approximately $10,420,283.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Clifton A. Mcclelland III sold 54,093 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the transaction, the senior vice president now owns 42,602 shares of the company’s stock, valued at approximately $672,259.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,656 shares of company stock valued at $1,990,220. 0.88% of the stock is currently owned by insiders.

TEGNA Trading Up 0.1 %

Shares of TEGNA stock opened at $14.93 on Tuesday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 5.22 and a beta of 0.51. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 12-month low of $13.18 and a 12-month high of $17.37. The firm’s 50-day moving average price is $14.34 and its two-hundred day moving average price is $14.81.

TEGNA (NYSE:TGNAGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $714.30 million for the quarter, compared to the consensus estimate of $718.86 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. On average, analysts forecast that TEGNA Inc. will post 3.11 earnings per share for the current fiscal year.

TEGNA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $0.125 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s dividend payout ratio is 16.08%.

TEGNA Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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