TEGNA Inc. (NYSE:TGNA) Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. lessened its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 28.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,362 shares of the company’s stock after selling 8,289 shares during the quarter. Verity Asset Management Inc.’s holdings in TEGNA were worth $304,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its holdings in shares of TEGNA by 2.1% during the 1st quarter. Wasatch Advisors LP now owns 37,970 shares of the company’s stock worth $567,000 after buying an additional 771 shares during the last quarter. Outfitter Financial LLC lifted its stake in shares of TEGNA by 1.9% in the 4th quarter. Outfitter Financial LLC now owns 47,750 shares of the company’s stock valued at $731,000 after purchasing an additional 900 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of TEGNA by 142.1% during the 4th 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. New York State Common Retirement Fund increased its position in TEGNA by 1.0% during the 4th quarter. New York State Common Retirement Fund now owns 108,212 shares of the company’s stock worth $1,656,000 after purchasing an additional 1,074 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in TEGNA by 2.3% in the first quarter. State of Michigan Retirement System now owns 48,371 shares of the company’s stock valued at $723,000 after buying an additional 1,100 shares during the period. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO David T. Lougee sold 98,437 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.98, for a total value 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 $8,309,725.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $13.99, for a total value of $349,750.00. Following the completion of the transaction, the chief operating officer now owns 190,474 shares of the company’s stock, valued at $2,664,731.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,376,149.26. Following the sale, the chief executive officer now owns 594,401 shares in the company, valued at $8,309,725.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,343 shares of company stock valued at $3,072,994. Corporate insiders own 0.88% of the company’s stock.

TEGNA Trading Down 3.0 %

TGNA stock traded down $0.47 during midday trading on Friday, reaching $15.10. 1,360,355 shares of the company’s stock traded hands, compared to its average volume of 1,772,241. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.53 and a quick ratio of 2.53. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $17.37. The business has a 50-day moving average price of $14.48 and a two-hundred day moving average price of $14.52. The company has a market capitalization of $2.56 billion, a P/E ratio of 5.29 and a beta of 0.51.

TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The business had revenue of $714.30 million for the quarter, compared to analyst estimates of $718.86 million. During the same quarter in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Equities research analysts forecast that TEGNA Inc. will post 3.11 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 annualized dividend and a dividend yield of 3.31%. TEGNA’s payout ratio is currently 17.48%.

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.