Nomura Holdings Inc. Takes $1.53 Million Position in TEGNA Inc. (NYSE:TGNA)

Nomura Holdings Inc. acquired a new stake in TEGNA Inc. (NYSE:TGNA) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 100,000 shares of the company’s stock, valued at approximately $1,530,000. Nomura Holdings Inc. owned 0.06% of TEGNA as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in TEGNA by 142.1% in the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after purchasing an additional 983 shares during the period. Covestor Ltd boosted its stake in TEGNA by 94.3% during the third quarter. Covestor Ltd now owns 2,741 shares of the company’s stock valued at $40,000 after buying an additional 1,330 shares during the period. Parkside Financial Bank & Trust grew its position in TEGNA by 34.4% during the third quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock worth $65,000 after buying an additional 1,145 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in TEGNA by 32.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock worth $74,000 after acquiring an additional 1,180 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of TEGNA in the 3rd quarter valued at about $97,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Stock Performance

NYSE:TGNA opened at $12.86 on Thursday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 4.50 and a beta of 0.51. The business has a 50 day moving average of $14.13 and a 200 day moving average of $14.63. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.53 and a quick ratio of 2.53. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $17.37.

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

TEGNA Increases Dividend

The business also recently disclosed 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 of this dividend is Friday, June 7th. This represents a $0.50 annualized dividend and a dividend yield of 3.89%. This is an increase from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s payout ratio is currently 17.48%.

Insider Activity

In related news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $13.99, for a total transaction of $349,750.00. Following the transaction, the chief operating officer now directly owns 190,474 shares in the company, valued at approximately $2,664,731.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other TEGNA news, SVP Clifton A. Mcclelland III sold 54,093 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $13.99, for a total value of $349,750.00. Following the transaction, the chief operating officer now owns 190,474 shares of the company’s stock, valued at approximately $2,664,731.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,656 shares of company stock valued at $2,339,970. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TGNA. Benchmark lowered their target price 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. JPMorgan Chase & Co. dropped their price objective on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 1st.

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.