TEGNA (NYSE:TGNA) Reaches New 52-Week Low at $13.36

Shares of TEGNA Inc. (NYSE:TGNA - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.36 and last traded at $13.40, with a volume of 1066758 shares traded. The stock had previously closed at $13.60.

Analyst Upgrades and Downgrades

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

TEGNA Stock Performance

The firm has a 50-day moving average price of $14.36 and a 200 day moving average price of $14.87. The firm has a market capitalization of $2.36 billion, a PE ratio of 5.92 and a beta of 0.50. 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 - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 16.38% and a return on equity of 12.41%. The company's revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. Research analysts expect that TEGNA Inc. will post 3.05 earnings per share for the current year.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.114 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.46 dividend on an annualized basis and a yield of 3.41%. TEGNA's dividend payout ratio (DPR) is presently 19.91%.

Insider Activity at TEGNA

In related news, CEO David T. Lougee sold 150,000 shares of TEGNA stock in a transaction on Monday, February 5th. The stock was sold at an average price of $15.21, for a total value of $2,281,500.00. Following the completion of the transaction, the chief executive officer now directly owns 636,262 shares in the company, valued at $9,677,545.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other TEGNA news, CEO David T. Lougee sold 150,000 shares of TEGNA stock in a transaction dated 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 approximately $9,677,545.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David T. Lougee sold 43,750 shares of TEGNA stock in a transaction dated Monday, April 1st. The stock was 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.

Institutional Trading of TEGNA

A number of institutional investors have recently bought and sold shares of TGNA. BlackRock Inc. increased its position in shares of TEGNA by 0.6% during the second quarter. BlackRock Inc. now owns 27,750,915 shares of the company's stock worth $450,675,000 after purchasing an additional 166,869 shares in the last quarter. Vanguard Group Inc. increased its position in shares of TEGNA by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company's stock worth $387,502,000 after purchasing an additional 744,721 shares in the last quarter. Boston Partners increased its position in shares of TEGNA by 4.4% during the third quarter. Boston Partners now owns 10,574,902 shares of the company's stock worth $154,046,000 after purchasing an additional 445,464 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of TEGNA by 17.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company's stock worth $157,506,000 after purchasing an additional 1,501,986 shares in the last quarter. Finally, State Street Corp increased its position in shares of TEGNA by 1.0% during the second quarter. State Street Corp now owns 9,982,897 shares of the company's stock worth $163,010,000 after purchasing an additional 94,345 shares in the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

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.