Dean Investment Associates LLC Sells 68,356 Shares of TEGNA Inc. (NYSE:TGNA)

Dean Investment Associates LLC trimmed its stake in shares of TEGNA Inc. (NYSE:TGNA) by 23.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,835 shares of the company’s stock after selling 68,356 shares during the period. Dean Investment Associates LLC’s holdings in TEGNA were worth $3,437,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TGNA. Miller Howard Investments Inc. NY lifted its holdings in shares of TEGNA by 1.8% in the second quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company’s stock valued at $586,000 after purchasing an additional 726 shares in the last quarter. US Bancorp DE lifted its stake in TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after acquiring an additional 764 shares in the last quarter. Manchester Financial Inc. lifted its stake in TEGNA by 0.9% in the 2nd quarter. Manchester Financial Inc. now owns 118,202 shares of the company’s stock valued at $1,648,000 after acquiring an additional 1,047 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in TEGNA by 0.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 173,408 shares of the company’s stock worth $2,417,000 after acquiring an additional 1,341 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of TEGNA by 48.2% during the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock worth $63,000 after acquiring an additional 1,470 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Price Performance

NYSE:TGNA opened at $18.77 on Friday. The stock has a market capitalization of $3.02 billion, a PE ratio of 6.63 and a beta of 0.52. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The firm has a fifty day simple moving average of $17.20 and a 200 day simple moving average of $15.35. 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 released its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. During the same period in the previous year, the business earned $0.39 EPS. TEGNA’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, December 6th. TEGNA’s dividend payout ratio is 17.67%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Finally, Benchmark lifted their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

Insiders Place Their Bets

In related news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA 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 completion of the sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at approximately $2,535,718.80. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.