Segall Bryant & Hamill LLC Cuts Stock Position in TEGNA Inc. (NYSE:TGNA)

Segall Bryant & Hamill LLC lowered its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,414 shares of the company's stock after selling 36,303 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.17% of TEGNA worth $5,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in shares of TEGNA during the fourth quarter valued at approximately $27,000. Neo Ivy Capital Management bought a new position in shares of TEGNA during the fourth quarter valued at approximately $28,000. Tower Research Capital LLC TRC raised its holdings in shares of TEGNA by 80.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in TEGNA in the fourth quarter worth $32,000. Finally, GAMMA Investing LLC raised its holdings in TEGNA by 53.3% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after purchasing an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Price Performance

TGNA traded down $0.19 on Monday, hitting $16.54. 1,074,811 shares of the company's stock traded hands, compared to its average volume of 1,815,894. The company's 50 day simple moving average is $16.87 and its 200-day simple moving average is $17.29. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 5.82 and a beta of 0.30. TEGNA Inc. has a one year low of $13.37 and a one year high of $19.62. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.83.

TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.03. The business had revenue of $680.05 million for the quarter, compared to the consensus estimate of $677.24 million. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. The company's revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, June 6th. TEGNA's payout ratio is 17.61%.

Analyst Ratings Changes

TGNA has been the topic of a number of recent research reports. Guggenheim cut their target price on TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Wells Fargo & Company reduced their price objective on TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Benchmark reduced their price objective on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their price objective on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

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.