Robeco Institutional Asset Management B.V. Sells 5,726 Shares of TEGNA Inc. (NYSE:TGNA)

Robeco Institutional Asset Management B.V. reduced its stake in shares of TEGNA Inc. (NYSE:TGNA) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,274 shares of the company’s stock after selling 5,726 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in TEGNA were worth $1,259,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in TEGNA by 94.3% during the third quarter. Covestor Ltd now owns 2,741 shares of the company’s stock worth $40,000 after acquiring an additional 1,330 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of TEGNA by 925.4% during the third quarter. EverSource Wealth Advisors LLC now owns 3,630 shares of the company’s stock valued at $53,000 after buying an additional 3,276 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of TEGNA by 34.4% during the third quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock valued at $65,000 after buying an additional 1,145 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of TEGNA during the third quarter valued at approximately $97,000. Finally, Signaturefd LLC grew its stake in shares of TEGNA by 437.5% during the fourth quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock valued at $148,000 after buying an additional 7,884 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other TEGNA news, CEO David T. Lougee sold 32,813 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.04, for a total transaction of $493,507.52. Following the completion of the sale, the chief executive officer now owns 692,838 shares in the company, valued at $10,420,283.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other TEGNA news, CEO David T. Lougee sold 32,813 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.04, for a total transaction of $493,507.52. Following the completion of the sale, the chief executive officer now owns 692,838 shares in the company, valued at $10,420,283.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Clifton A. Mcclelland III sold 54,093 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.78, for a total value of $853,587.54. Following the sale, the senior vice president now owns 42,602 shares of the company’s stock, valued at approximately $672,259.56. The disclosure for this sale can be found here. Insiders sold a total of 130,656 shares of company stock worth $1,990,220 over the last 90 days. Company insiders own 0.88% of the company’s stock.

TEGNA Stock Down 0.7 %

Shares of NYSE TGNA opened at $14.43 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.53 and a current ratio of 2.53. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 5.04 and a beta of 0.50. The stock has a 50 day moving average price of $14.33 and a 200 day moving average price of $14.87. TEGNA Inc. has a 52-week low of $13.18 and a 52-week high of $17.37.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $714.30 million during the quarter, compared to analyst estimates of $718.86 million. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. TEGNA’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 earnings per share. Sell-side analysts expect that TEGNA Inc. will post 3.11 earnings per share for the current year.

TEGNA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.50 dividend on an annualized basis and a yield of 3.47%. This is a positive change from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s dividend payout ratio is currently 16.08%.

Analysts Set New Price Targets

A number of research firms have recently commented on TGNA. 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. 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 note on Friday, March 1st. Finally, Wells Fargo & Company lowered their price target on TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 9th.

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.