TEGNA Inc. (NYSE:TGNA) Shares Sold by Axa S.A.

AXA S.A. trimmed its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 527,196 shares of the company's stock after selling 44,961 shares during the period. AXA S.A. owned approximately 0.33% of TEGNA worth $9,642,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Whitebox Advisors LLC boosted its position in shares of TEGNA by 459.6% during the 4th quarter. Whitebox Advisors LLC now owns 142,703 shares of the company's stock worth $2,610,000 after purchasing an additional 117,203 shares in the last quarter. Jane Street Group LLC boosted its position in shares of TEGNA by 494.8% during the 4th quarter. Jane Street Group LLC now owns 195,677 shares of the company's stock worth $3,579,000 after purchasing an additional 245,245 shares in the last quarter. Northern Trust Corp boosted its position in shares of TEGNA by 8.3% during the 4th quarter. Northern Trust Corp now owns 2,865,335 shares of the company's stock worth $52,407,000 after purchasing an additional 219,706 shares in the last quarter. Three Seasons Wealth LLC purchased a new stake in shares of TEGNA during the 4th quarter worth $512,000. Finally, Hancock Whitney Corp boosted its position in shares of TEGNA by 170.4% during the 4th quarter. Hancock Whitney Corp now owns 89,688 shares of the company's stock worth $1,640,000 after purchasing an additional 56,520 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on TGNA. StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Wells Fargo & Company decreased their price objective on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Guggenheim decreased their price objective on shares of TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Benchmark decreased their price objective on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

TEGNA Price Performance

Shares of TEGNA stock traded down $0.07 on Friday, hitting $17.06. The company's stock had a trading volume of 1,228,613 shares, compared to its average volume of 1,985,513. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average price of $17.05 and a 200-day moving average price of $17.73. The company has a market capitalization of $2.74 billion, a P/E ratio of 6.03 and a beta of 0.31.

TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.03. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm had revenue of $680.05 million during the quarter, compared to the consensus estimate of $677.24 million. During the same quarter in the previous year, the company posted $0.45 EPS. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA's payout ratio is 14.12%.

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.