State of New Jersey Common Pension Fund D Buys 8,894 Shares of TEGNA Inc. (NYSE:TGNA)

State of New Jersey Common Pension Fund D grew its position in TEGNA Inc. (NYSE:TGNA) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,563 shares of the company’s stock after purchasing an additional 8,894 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of TEGNA worth $2,503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in 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 purchasing an additional 499,171 shares in the last quarter. 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 in the last quarter. LSV Asset Management raised its holdings in shares of TEGNA by 10.0% during the third 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 during the period. AQR Capital Management LLC lifted its position in TEGNA by 190.5% in the 3rd quarter. AQR Capital Management LLC now owns 3,224,755 shares of the company’s stock valued at $46,985,000 after acquiring an additional 2,114,826 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in TEGNA by 2.5% in 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 purchasing an additional 58,870 shares during the period. 92.19% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several analysts have issued reports on TGNA shares. Wells Fargo & Company dropped their price target on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note 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 note on Friday, March 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, March 1st.

TEGNA Price Performance

NYSE:TGNA opened at $13.89 on Thursday. TEGNA Inc. has a 52-week low of $13.18 and a 52-week high of $17.37. The company has a market cap of $2.45 billion, a P/E ratio of 6.15 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. The stock’s 50-day simple moving average is $14.14 and its 200 day simple moving average is $14.82.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). The company had revenue of $725.80 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. As a group, sell-side analysts forecast that TEGNA Inc. will post 3 EPS for the current fiscal year.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.114 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA’s dividend payout ratio (DPR) is presently 20.35%.

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.