16,755 Shares in TEGNA Inc. (NYSE:TGNA) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in shares of TEGNA Inc. (NYSE:TGNA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,755 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in TEGNA by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company’s stock valued at $387,502,000 after buying an additional 744,721 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of TEGNA during the 1st quarter worth $2,526,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TEGNA by 122.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company’s stock worth $3,564,000 after purchasing an additional 123,249 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TEGNA by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock worth $143,714,000 after purchasing an additional 141,638 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of TEGNA by 26.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,330,866 shares of the company’s stock worth $35,662,000 after purchasing an additional 484,658 shares in the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

TEGNA Trading Up 1.0 %

Shares of TGNA stock opened at $16.85 on Friday. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 5.89 and a beta of 0.50. The stock has a 50-day moving average of $14.71 and a 200-day moving average of $14.48. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $16.87.

TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share 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 analyst estimates of $715.40 million. During the same quarter last year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that TEGNA Inc. will post 3.07 earnings per share for the current year.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $0.125 per share. The ex-dividend date was Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 2.97%. TEGNA’s dividend payout ratio (DPR) is currently 17.48%.

Insider Buying and Selling

In related news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.88, for a total transaction of $347,000.00. Following the sale, the chief operating officer now directly owns 179,617 shares in the company, valued at approximately $2,493,083.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

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.