TEGNA Inc. (NYSE:TGNA) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in TEGNA Inc. (NYSE:TGNA) by 27.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,494 shares of the company’s stock after selling 20,216 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in TEGNA were worth $860,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA during the third quarter valued at $28,000. Headlands Technologies LLC increased its stake in TEGNA by 48.2% in the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock worth $63,000 after purchasing an additional 1,470 shares in the last quarter. Quarry LP lifted its stake in TEGNA by 455.2% during the third quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after buying an additional 3,300 shares in the last quarter. Blue Trust Inc. lifted its stake in TEGNA by 247.8% during the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after buying an additional 3,350 shares in the last quarter. Finally, US Bancorp DE boosted 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 worth $71,000 after buying an additional 764 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGNA has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Benchmark increased their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th.

Insider Transactions at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Friday, October 25th. The shares were 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 represents a 13.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

TEGNA Stock Performance

Shares of TGNA opened at $17.50 on Thursday. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market capitalization of $2.82 billion, a PE ratio of 6.18 and a beta of 0.52. The company’s 50 day moving average price is $17.63 and its 200 day moving average price is $15.56.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating 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 business had revenue of $806.83 million for the quarter, compared to analysts’ expectations of $795.72 million. During the same period in the previous year, the company posted $0.39 EPS. TEGNA’s revenue was up 13.1% on a year-over-year basis. Research analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, December 6th. TEGNA’s payout ratio is currently 17.67%.

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.