TEGNA Inc. (NYSE:TGNA) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 30.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 75,314 shares of the company’s stock after buying an additional 17,515 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TEGNA were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its stake in shares of TEGNA by 0.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 381,086 shares of the company’s stock worth $5,567,000 after acquiring an additional 987 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of TEGNA by 34.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock worth $65,000 after acquiring an additional 1,145 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of TEGNA by 11.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 12,386 shares of the company’s stock worth $182,000 after acquiring an additional 1,267 shares in the last quarter. Covestor Ltd lifted its stake in TEGNA by 94.3% in the 3rd quarter. Covestor Ltd now owns 2,741 shares of the company’s stock valued at $40,000 after buying an additional 1,330 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in TEGNA by 7.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 22,348 shares of the company’s stock valued at $326,000 after buying an additional 1,464 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Trading Down 0.9 %

TGNA stock opened at $13.72 on Wednesday. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 6.07 and a beta of 0.50. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.14. The business has a fifty day simple moving average of $14.26 and a 200-day simple moving average of $14.85. TEGNA Inc. has a 52 week low of $13.18 and a 52 week high of $17.37.

TEGNA (NYSE:TGNA) last announced its quarterly 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). TEGNA had a net margin of 16.38% and a return on equity of 12.41%. The company had revenue of $725.80 million during the quarter, compared to analyst estimates of $750.78 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. On average, equities research analysts expect that TEGNA Inc. will post 3.05 EPS for the current year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.114 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.46 annualized dividend and a yield of 3.32%. TEGNA’s dividend payout ratio is currently 20.35%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price target on TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. JPMorgan Chase & Co. cut their price target on TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 1st. Finally, Benchmark cut their price target on TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 1st.

Insider Activity at TEGNA

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

About TEGNA

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.