DekaBank Deutsche Girozentrale Raises Stake in TEGNA Inc. (NYSE:TGNA)

DekaBank Deutsche Girozentrale lifted its stake in shares of TEGNA Inc. (NYSE:TGNA) by 22.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467,656 shares of the company’s stock after buying an additional 86,604 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.28% of TEGNA worth $6,920,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings 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. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 1,501,986 shares during the period. Kodai Capital Management LP purchased a new position in TEGNA during the 4th quarter worth $7,477,000. Seven Eight Capital LP purchased a new position in TEGNA during the 1st quarter worth $2,526,000. Finally, Gamco Investors INC. ET AL raised its position 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 during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction dated Friday, June 7th. The shares were 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 approximately $2,664,731.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other TEGNA news, SVP Clifton A. Mcclelland III sold 54,093 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $13.99, for a total transaction of $349,750.00. Following the transaction, the chief operating officer now owns 190,474 shares in the company, valued at $2,664,731.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,343 shares of company stock valued at $3,072,994. Insiders own 0.88% of the company’s stock.

TEGNA Stock Performance

TEGNA stock traded down $0.47 during trading hours on Friday, reaching $15.10. 1,360,355 shares of the stock were exchanged, compared to its average volume of 1,772,241. The stock has a market cap of $2.56 billion, a P/E ratio of 5.28 and a beta of 0.51. 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 $12.35 and a 52-week high of $17.37. The firm’s 50 day moving average is $14.48 and its 200 day moving average is $14.52.

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

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $0.125 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 3.31%. TEGNA’s payout ratio is 17.48%.

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.