TEGNA Inc. (NYSE:TGNA) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP trimmed its stake in TEGNA Inc. (NYSE:TGNA) by 2.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 40,149 shares of the company’s stock after selling 877 shares during the period. Mission Wealth Management LP’s holdings in TEGNA were worth $600,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of TEGNA by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company’s stock valued at $387,502,000 after acquiring an additional 744,721 shares during the period. Muhlenkamp & Co. Inc. raised its stake in shares of TEGNA by 106.0% in the 3rd quarter. Muhlenkamp & Co. Inc. now owns 431,541 shares of the company’s stock valued at $6,288,000 after acquiring an additional 222,103 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of TEGNA by 17.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company’s stock valued at $157,506,000 after acquiring an additional 1,501,986 shares during the period. Kodai Capital Management LP purchased a new stake in shares of TEGNA in the 4th quarter valued at approximately $7,477,000. Finally, Gamco Investors INC. ET AL raised its stake in shares of TEGNA by 6.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,056,988 shares of the company’s stock valued at $31,472,000 after acquiring an additional 130,960 shares during the period. 92.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Clifton A. Mcclelland III sold 54,093 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total transaction of $853,587.54. Following the sale, the senior vice president now directly owns 42,602 shares of the company’s stock, valued at approximately $672,259.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other TEGNA news, CEO David T. Lougee sold 32,813 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.04, for a total value of $493,507.52. Following the sale, the chief executive officer now directly owns 692,838 shares of the company’s stock, valued at approximately $10,420,283.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Clifton A. Mcclelland III sold 54,093 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the sale, the senior vice president now directly owns 42,602 shares in the company, valued at $672,259.56. The disclosure for this sale can be found here. Insiders have sold a total of 210,343 shares of company stock valued at $3,072,994 in the last ninety days. Company insiders own 0.88% of the company’s stock.

TEGNA Stock Down 0.9 %

TGNA traded down $0.12 during trading hours on Friday, hitting $13.88. 1,211,541 shares of the company’s stock were exchanged, compared to its average volume of 2,607,941. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $17.37. The firm has a 50 day moving average of $14.15 and a 200 day moving average of $14.51. The firm has a market cap of $2.35 billion, a P/E ratio of 4.85 and a beta of 0.51. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.10.

TEGNA (NYSE:TGNA) last announced its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The firm had revenue of $714.30 million for the quarter, compared to the consensus estimate of $718.86 million. During the same period in the prior year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts predict that TEGNA Inc. will post 3.11 EPS for the current fiscal year.

TEGNA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $0.125 per share. This is an increase from TEGNA’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a yield of 3.60%. The ex-dividend date was Friday, June 7th. TEGNA’s dividend payout ratio is presently 17.48%.

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.