Neuberger Berman Group LLC Sells 61,854 Shares of TEGNA Inc. (NYSE:TGNA)

Neuberger Berman Group LLC lowered its position in shares of TEGNA Inc. (NYSE:TGNAFree Report) by 57.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,075 shares of the company’s stock after selling 61,854 shares during the quarter. Neuberger Berman Group LLC’s holdings in TEGNA were worth $705,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TGNA. Parallel Advisors LLC boosted its position in TEGNA by 142.1% during the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock worth $26,000 after acquiring an additional 983 shares during the last quarter. Covestor Ltd boosted its position in TEGNA by 94.3% during the 3rd 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. Parkside Financial Bank & Trust boosted its holdings in shares of TEGNA by 34.4% in the 3rd 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. EverSource Wealth Advisors LLC boosted its holdings in shares of TEGNA by 32.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock valued at $74,000 after buying an additional 1,180 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of TEGNA in the 3rd quarter valued at approximately $97,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on TGNA shares. JPMorgan Chase & Co. cut their price objective on TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 1st. Benchmark cut their price target on TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 1st.

Get Our Latest Stock Analysis on TGNA

TEGNA Stock Down 2.0 %

Shares of NYSE TGNA opened at $13.87 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.53 and a current ratio of 2.53. TEGNA Inc. has a 52 week low of $13.18 and a 52 week high of $17.37. The stock has a market capitalization of $2.35 billion, a P/E ratio of 4.85 and a beta of 0.51. The stock’s fifty day moving average is $14.29 and its 200 day moving average is $14.75.

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

TEGNA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.125 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.60%. This is a boost from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

Insider Buying and Selling

In related news, CEO David T. Lougee sold 43,750 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $14.70, for a total value of $643,125.00. Following the sale, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $13.99, for a total value of $349,750.00. Following the sale, the chief operating officer now directly owns 190,474 shares of the company’s stock, valued at $2,664,731.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David T. Lougee sold 43,750 shares of TEGNA stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $14.70, for a total value of $643,125.00. Following the sale, the chief executive officer now directly owns 725,651 shares in the company, valued at $10,667,069.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,656 shares of company stock worth $2,339,970. Company insiders own 0.88% of the company’s stock.

About TEGNA

(Free Report)

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.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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