TEGNA Inc. (NYSE:TGNA) CEO David T. Lougee Sells 43,750 Shares of Stock

TEGNA Inc. (NYSE:TGNA) CEO David T. Lougee sold 43,750 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction of $643,125.00. Following the transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

TEGNA Stock Down 2.0 %

Shares of NYSE:TGNA opened at $14.38 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. TEGNA Inc. has a 12 month low of $13.40 and a 12 month high of $17.37. The company has a 50-day moving average price of $14.66 and a 200 day moving average price of $14.93. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 6.36 and a beta of 0.50.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.04). The firm had revenue of $725.80 million during the quarter, compared to the consensus estimate of $750.78 million. TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities research analysts predict that TEGNA Inc. will post 3.05 earnings per share for the current year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.114 dividend. This represents a $0.46 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, March 7th. TEGNA’s payout ratio is currently 20.35%.

Analyst Upgrades and Downgrades

TGNA has been the subject of several research reports. 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. Wells Fargo & Company lowered their price target on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. lowered their price target 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.

Institutional Trading of TEGNA

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of TEGNA by 0.6% during the second quarter. BlackRock Inc. now owns 27,750,915 shares of the company’s stock worth $450,675,000 after acquiring an additional 166,869 shares during the period. Vanguard Group Inc. increased its position in shares of TEGNA by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company’s stock worth $387,502,000 after acquiring an additional 744,721 shares during the period. Boston Partners increased its position in shares of TEGNA by 4.4% during the third quarter. Boston Partners now owns 10,574,902 shares of the company’s stock worth $154,046,000 after acquiring an additional 445,464 shares during the period. Dimensional Fund Advisors LP increased its holdings in TEGNA by 17.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company’s stock valued at $157,506,000 after buying an additional 1,501,986 shares during the period. Finally, State Street Corp increased its holdings in TEGNA by 1.0% during the second quarter. State Street Corp now owns 9,982,897 shares of the company’s stock valued at $163,010,000 after buying an additional 94,345 shares during the period. Institutional investors own 92.19% of the company’s stock.

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.