TEGNA Inc. (NYSE:TGNA) Shares Bought by Signet Financial Management LLC

Signet Financial Management LLC boosted its stake in shares of TEGNA Inc. (NYSE:TGNA) by 11.6% in the first quarter, HoldingsChannel.com reports. The fund owned 21,230 shares of the company’s stock after purchasing an additional 2,209 shares during the period. Signet Financial Management LLC’s holdings in TEGNA were worth $317,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. UBS Group AG raised its position in shares of TEGNA by 135.0% in the third quarter. UBS Group AG now owns 189,443 shares of the company’s stock valued at $2,760,000 after buying an additional 108,825 shares during the last quarter. Invesco Ltd. raised its position in shares of TEGNA by 26.8% in the third quarter. Invesco Ltd. now owns 526,467 shares of the company’s stock valued at $7,671,000 after buying an additional 111,208 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of TEGNA in the third quarter valued at about $717,000. Dark Forest Capital Management LP purchased a new stake in shares of TEGNA in the third quarter valued at about $540,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TEGNA in the third quarter valued at about $248,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Trading Down 2.5 %

TGNA stock traded down $0.34 during mid-day trading on Thursday, hitting $13.39. 280,962 shares of the company were exchanged, compared to its average volume of 2,162,338. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $2.27 billion, a P/E ratio of 4.80 and a beta of 0.51. The business has a fifty day simple moving average of $14.13 and a 200-day simple moving average of $14.57. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $17.37.

TEGNA (NYSE:TGNA) last announced its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $714.30 million during the quarter, compared to analyst estimates of $718.86 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. TEGNA’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. On average, equities research analysts predict that TEGNA Inc. will post 3.11 earnings per share for the current fiscal year.

TEGNA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, June 7th. This is a boost from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s dividend payout ratio is currently 17.48%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGNA. JPMorgan Chase & Co. dropped their price objective on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 1st. Benchmark dropped their price objective on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 1st.

Insider Transactions at TEGNA

In related news, SVP Clifton A. Mcclelland III sold 54,093 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total value of $853,587.54. Following the sale, the senior vice president now owns 42,602 shares of the company’s stock, valued at $672,259.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other TEGNA news, SVP Clifton A. Mcclelland III sold 54,093 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total transaction of $853,587.54. Following the sale, the senior vice president now owns 42,602 shares of the company’s stock, valued at $672,259.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David T. Lougee sold 32,813 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.04, for a total transaction of $493,507.52. Following the sale, the chief executive officer now directly owns 692,838 shares in the company, valued at approximately $10,420,283.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,656 shares of company stock valued at $2,339,970. 0.88% of the stock is currently owned by corporate 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.