Mutual of America Capital Management LLC Sells 23,628 Shares of TEGNA Inc. (NYSE:TGNA)

Mutual of America Capital Management LLC cut its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,074 shares of the company’s stock after selling 23,628 shares during the period. Mutual of America Capital Management LLC owned about 0.29% of TEGNA worth $6,776,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in shares of TEGNA by 142.1% during the fourth quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock worth $26,000 after purchasing an additional 983 shares during the period. CWM LLC lifted its holdings in TEGNA by 389.0% during the 1st quarter. CWM LLC now owns 1,873 shares of the company’s stock worth $28,000 after buying an additional 1,490 shares during the period. Fidelis Capital Partners LLC acquired a new position in TEGNA during the 1st quarter worth about $28,000. Headlands Technologies LLC bought a new stake in shares of TEGNA in the 1st quarter valued at about $46,000. Finally, Blue Trust Inc. increased its stake in shares of TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after buying an additional 3,350 shares during the period. 92.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

TEGNA Price Performance

TGNA stock opened at $15.20 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 5.31 and a beta of 0.49. The company’s fifty day simple moving average is $14.58 and its 200 day simple moving average is $14.32. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $16.56.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The company had revenue of $710.36 million for the quarter, compared to the consensus estimate of $715.40 million. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, analysts expect that TEGNA Inc. will post 3.07 earnings per share for the current year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, September 6th. TEGNA’s payout ratio is 17.48%.

Insider Transactions at TEGNA

In related news, 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 transaction of $347,000.00. Following the transaction, the chief operating officer now directly owns 179,617 shares of the company’s stock, valued at $2,493,083.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO David T. Lougee sold 98,437 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 594,401 shares in the company, valued at $8,309,725.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.88, for a total value of $347,000.00. Following the transaction, 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 valued at $1,723,563 in the last quarter. 0.88% of the stock is currently owned by company insiders.

TEGNA 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.