DekaBank Deutsche Girozentrale Sells 33,420 Shares of TEGNA Inc. (NYSE:TGNA)

DekaBank Deutsche Girozentrale lowered its position in TEGNA Inc. (NYSE:TGNA) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 434,236 shares of the company’s stock after selling 33,420 shares during the period. DekaBank Deutsche Girozentrale owned 0.26% of TEGNA worth $5,911,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its stake in TEGNA by 1.8% in the second quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company’s stock worth $586,000 after purchasing an additional 726 shares during the period. Wasatch Advisors LP grew its position in shares of TEGNA by 2.1% in the 1st quarter. Wasatch Advisors LP now owns 37,970 shares of the company’s stock worth $567,000 after buying an additional 771 shares during the period. Parallel Advisors LLC increased its stake in shares of TEGNA by 142.1% in the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock worth $26,000 after acquiring an additional 983 shares in the last quarter. Manchester Financial Inc. lifted its position in TEGNA by 0.9% during the 2nd quarter. Manchester Financial Inc. now owns 118,202 shares of the company’s stock valued at $1,648,000 after acquiring an additional 1,047 shares during the period. Finally, O Keefe Stevens Advisory Inc. boosted its stake in TEGNA by 7.4% during the second quarter. O Keefe Stevens Advisory Inc. now owns 16,024 shares of the company’s stock worth $223,000 after acquiring an additional 1,099 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

TEGNA Trading Up 2.9 %

NYSE TGNA opened at $14.85 on Wednesday. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $16.56. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. The stock’s fifty day moving average price is $14.53 and its 200-day moving average price is $14.30. The stock has a market cap of $2.52 billion, a P/E ratio of 5.19 and a beta of 0.49.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $710.36 million for the quarter, compared to the consensus estimate of $715.40 million. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. TEGNA’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. As a group, equities analysts forecast that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, September 6th. TEGNA’s dividend payout ratio (DPR) is currently 17.48%.

Insider Buying and Selling

In other TEGNA news, CEO David T. Lougee sold 98,437 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the sale, the chief executive officer now directly owns 594,401 shares in the company, valued at approximately $8,309,725.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO David T. Lougee sold 98,437 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the transaction, the chief executive officer now directly owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the sale, the chief operating officer now directly owns 179,617 shares in the company, valued at $2,493,083.96. The disclosure for this sale can be found here. Insiders sold a total of 123,467 shares of company stock worth $1,723,563 in the last three months. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed a “buy” rating and set a $21.00 target price on shares of TEGNA in a research note on Thursday, August 8th.

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.