Louisiana State Employees Retirement System Invests $846,000 in TEGNA Inc. (NYSE:TGNA)

Louisiana State Employees Retirement System acquired a new position in shares of TEGNA Inc. (NYSE:TGNA) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 55,300 shares of the company’s stock, valued at approximately $846,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of TEGNA by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 24,582,211 shares of the company’s stock worth $358,163,000 after acquiring an additional 499,171 shares in the last quarter. Boston Partners raised its holdings in shares of TEGNA by 4.4% during the 3rd 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 in the last quarter. LSV Asset Management raised its holdings in shares of TEGNA by 10.0% during the 3rd quarter. LSV Asset Management now owns 4,668,419 shares of the company’s stock worth $68,019,000 after acquiring an additional 424,579 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of TEGNA by 190.5% during the 3rd quarter. AQR Capital Management LLC now owns 3,224,755 shares of the company’s stock worth $46,985,000 after acquiring an additional 2,114,826 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of TEGNA by 2.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,415,296 shares of the company’s stock worth $35,191,000 after acquiring an additional 58,870 shares in the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TEGNA

In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $14.70, for a total value of $643,125.00. Following the transaction, the chief executive officer now owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David T. Lougee sold 43,750 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $14.70, for a total transaction of $643,125.00. Following the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available through this link. Also, CEO David T. Lougee sold 150,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $15.21, for a total value of $2,281,500.00. Following the transaction, the chief executive officer now directly owns 636,262 shares in the company, valued at approximately $9,677,545.02. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

TEGNA Stock Performance

NYSE TGNA opened at $13.54 on Friday. The business’s 50 day moving average price is $14.21 and its 200-day moving average price is $14.83. The company has a market cap of $2.38 billion, a P/E ratio of 5.99 and a beta of 0.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.48 and a current ratio of 2.48. TEGNA Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $17.37.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). The business had revenue of $725.80 million during the quarter, compared to the consensus estimate of $750.78 million. TEGNA had a net margin of 16.38% and a return on equity of 12.41%. The business’s revenue was down 20.9% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. Sell-side analysts predict that TEGNA Inc. will post 3 earnings per share for the current year.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.114 dividend. This represents a $0.46 annualized dividend and a yield of 3.37%. The ex-dividend date was Thursday, March 7th. TEGNA’s dividend payout ratio (DPR) is presently 20.35%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TGNA shares. Wells Fargo & Company cut their target price on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. Benchmark cut their target price on TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. cut their target price on TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st.

TEGNA 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.