Crossmark Global Holdings Inc. Lowers Holdings in TEGNA Inc. $TGNA

Crossmark Global Holdings Inc. decreased its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 94.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,595 shares of the company’s stock after selling 554,177 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TEGNA were worth $602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of TEGNA by 13.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,480 shares of the company’s stock worth $91,000 after purchasing an additional 517 shares during the period. PNC Financial Services Group Inc. boosted its stake in TEGNA by 12.7% during the third quarter. PNC Financial Services Group Inc. now owns 5,810 shares of the company’s stock worth $118,000 after buying an additional 653 shares during the period. Arizona State Retirement System increased its position in shares of TEGNA by 1.4% during the third quarter. Arizona State Retirement System now owns 47,560 shares of the company’s stock valued at $967,000 after acquiring an additional 657 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of TEGNA by 12.6% during the second quarter. Parkside Financial Bank & Trust now owns 6,295 shares of the company’s stock valued at $106,000 after acquiring an additional 706 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of TEGNA by 2.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 36,978 shares of the company’s stock valued at $620,000 after acquiring an additional 838 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Zacks Research upgraded shares of TEGNA from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.75.

TEGNA Trading Down 0.7%

NYSE TGNA opened at $20.77 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 15.38 and a beta of 0.12. The firm has a 50 day simple moving average of $19.85 and a 200-day simple moving average of $20.02. TEGNA Inc. has a one year low of $14.87 and a one year high of $21.35.

TEGNA (NYSE:TGNA) last announced its earnings results on Monday, March 2nd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $706.11 million for the quarter, compared to the consensus estimate of $701.29 million. TEGNA had a net margin of 8.11% and a return on equity of 8.60%. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Equities research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. TEGNA’s dividend payout ratio is currently 37.04%.

TEGNA Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.