Signet Financial Management LLC Has $291,000 Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Signet Financial Management LLC decreased its stake in TEGNA Inc. (NYSE:TGNA) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,021 shares of the company’s stock after selling 4,014 shares during the period. Signet Financial Management LLC’s holdings in TEGNA were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its position in shares of TEGNA by 81.5% during the 1st quarter. US Bancorp DE now owns 5,749 shares of the company’s stock valued at $129,000 after purchasing an additional 2,581 shares in the last quarter. Bank of Montreal Can boosted its position in shares of TEGNA by 16.8% during the 1st quarter. Bank of Montreal Can now owns 40,458 shares of the company’s stock valued at $912,000 after purchasing an additional 5,830 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of TEGNA by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 81,097 shares of the company’s stock valued at $1,817,000 after purchasing an additional 7,732 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of TEGNA by 11.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 132,537 shares of the company’s stock valued at $3,057,000 after purchasing an additional 13,275 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in shares of TEGNA by 5.7% during the 1st quarter. Yousif Capital Management LLC now owns 122,229 shares of the company’s stock valued at $2,738,000 after purchasing an additional 6,586 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Stock Performance

Shares of TEGNA stock opened at $13.26 on Thursday. The company has a market cap of $2.34 billion, a PE ratio of 5.87 and a beta of 0.50. TEGNA Inc. has a 52 week low of $13.18 and a 52 week high of $17.37. The business has a 50 day moving average price of $14.30 and a 200-day moving average price of $14.85. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.14.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). The company had revenue of $725.80 million during the quarter, compared to analysts’ expectations of $750.78 million. TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The business’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. Equities analysts anticipate that TEGNA Inc. will post 3.05 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a dividend of $0.114 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA’s payout ratio is 20.35%.

Insider Activity at TEGNA

In related news, CEO David T. Lougee sold 43,750 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $14.70, for a total transaction of $643,125.00. Following the completion of the sale, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David T. Lougee sold 150,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the completion of the sale, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at $9,677,545.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David T. Lougee sold 43,750 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $10,667,069.70. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TGNA. Wells Fargo & Company cut their price target on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. JPMorgan Chase & Co. cut their price target on TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Finally, Benchmark cut their price target on TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, March 1st.

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.