TEGNA Inc. (NYSE:TGNA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of TEGNA Inc. (NYSE:TGNA) by 14.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,882 shares of the company’s stock after selling 3,590 shares during the quarter. Federated Hermes Inc.’s holdings in TEGNA were worth $305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Miller Howard Investments Inc. NY raised its position in TEGNA by 1.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company’s stock worth $586,000 after buying an additional 726 shares during the last quarter. Wasatch Advisors LP lifted its position in TEGNA by 2.1% in the first quarter. Wasatch Advisors LP now owns 37,970 shares of the company’s stock valued at $567,000 after purchasing an additional 771 shares during the period. 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 in the last quarter. Manchester Financial Inc. increased its position in TEGNA by 0.9% during the 2nd quarter. Manchester Financial Inc. now owns 118,202 shares of the company’s stock worth $1,648,000 after purchasing an additional 1,047 shares during the period. Finally, O Keefe Stevens Advisory Inc. raised its stake in shares of TEGNA by 7.4% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 16,024 shares of the company’s stock worth $223,000 after buying an additional 1,099 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

TEGNA Trading Up 1.5 %

Shares of TGNA opened at $15.01 on Wednesday. TEGNA Inc. has a twelve month low of $12.35 and a twelve 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 firm has a market capitalization of $2.55 billion, a P/E ratio of 5.25 and a beta of 0.49. The firm’s 50-day moving average is $14.55 and its two-hundred day moving average is $14.34.

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

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a $0.125 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.50 annualized dividend and a dividend yield of 3.33%. TEGNA’s dividend payout ratio is presently 17.48%.

Analyst Upgrades and Downgrades

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

Insider Activity at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.88, for a total transaction of $347,000.00. Following the completion of the transaction, the chief operating officer now directly owns 179,617 shares in the company, valued at approximately $2,493,083.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David T. Lougee sold 98,437 shares of TEGNA 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 transaction, 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 legal filing with the Securities & Exchange Commission, 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 owns 179,617 shares in the company, valued at approximately $2,493,083.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,467 shares of company stock valued at $1,723,563. Insiders own 0.88% of the company’s stock.

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.