Sanctuary Advisors LLC Grows Stock Position in TEGNA Inc. (NYSE:TGNA)

Sanctuary Advisors LLC grew its holdings in TEGNA Inc. (NYSE:TGNA) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,994 shares of the company’s stock after acquiring an additional 1,239 shares during the quarter. Sanctuary Advisors LLC’s holdings in TEGNA were worth $284,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of TEGNA in the 3rd quarter valued at $28,000. Headlands Technologies LLC grew its stake in TEGNA by 48.2% during the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock valued at $63,000 after purchasing an additional 1,470 shares during the last quarter. Quarry LP grew its stake in TEGNA by 455.2% during the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after purchasing an additional 3,300 shares during the last quarter. US Bancorp DE increased its holdings in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after purchasing an additional 764 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of TEGNA in the third quarter worth about $133,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Trading Down 0.9 %

Shares of NYSE:TGNA opened at $18.38 on Friday. The company has a market capitalization of $2.96 billion, a PE ratio of 6.49 and a beta of 0.52. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The business has a 50 day moving average of $17.97 and a two-hundred day moving average of $15.76. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The firm had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, December 6th. TEGNA’s dividend payout ratio (DPR) is presently 17.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Benchmark upped their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $21.00 to $23.00 in a report on Thursday, December 19th. Finally, StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a report on Friday, December 13th.

Insider Activity at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

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.