TEGNA Inc. (NYSE:TGNA) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in TEGNA Inc. (NYSE:TGNA) by 20.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 82,536 shares of the company’s stock after selling 20,877 shares during the quarter. Amalgamated Bank’s holdings in TEGNA were worth $1,151,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in 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 purchasing an additional 744,721 shares during the period. Kodai Capital Management LP acquired a new position in shares of TEGNA in the fourth quarter valued at approximately $7,477,000. Seven Eight Capital LP purchased a new stake in TEGNA during the 1st quarter worth approximately $2,526,000. Gamco Investors INC. ET AL lifted its holdings in TEGNA by 6.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,056,988 shares of the company’s stock worth $31,472,000 after buying an additional 130,960 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in TEGNA by 122.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company’s stock valued at $3,564,000 after purchasing an additional 123,249 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark restated a “buy” rating and set a $21.00 price target on shares of TEGNA in a report on Thursday, August 8th.

TEGNA Trading Up 2.4 %

NYSE TGNA opened at $15.44 on Friday. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $16.56. The firm has a 50 day moving average of $14.52 and a two-hundred day moving average of $14.35. The stock has a market capitalization of $2.62 billion, a PE ratio of 5.40 and a beta of 0.49. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10.

TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, August 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm had revenue of $710.36 million for the quarter, compared to analyst estimates of $715.40 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. TEGNA’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts expect that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 3.24%. TEGNA’s payout ratio is currently 17.48%.

Insider Transactions at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the transaction, the chief operating officer now directly owns 179,617 shares of the company’s stock, valued at approximately $2,493,083.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other TEGNA news, CEO David T. Lougee sold 98,437 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.98, for a total value of $1,376,149.26. Following the completion of the sale, the chief executive officer now owns 594,401 shares in the company, valued at $8,309,725.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the completion of the sale, the chief operating officer now directly owns 179,617 shares of the company’s stock, valued at $2,493,083.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,467 shares of company stock worth $1,723,563. 0.88% of the stock is currently owned by insiders.

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.