SG Americas Securities LLC Cuts Stock Holdings in TEGNA Inc. (NYSE:TGNA)

SG Americas Securities LLC trimmed its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 75.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,328 shares of the company's stock after selling 75,861 shares during the quarter. SG Americas Securities LLC's holdings in TEGNA were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its position in TEGNA by 15.1% during the second quarter. Captrust Financial Advisors now owns 6,843 shares of the company's stock worth $144,000 after purchasing an additional 897 shares during the period. Aspen Grove Capital LLC lifted its holdings in shares of TEGNA by 7.7% during the second quarter. Aspen Grove Capital LLC now owns 12,918 shares of the company's stock worth $211,000 after buying an additional 918 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of TEGNA by 189.5% during the first quarter. Belpointe Asset Management LLC now owns 1,459 shares of the company's stock worth $25,000 after buying an additional 955 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of TEGNA by 0.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 381,086 shares of the company's stock worth $5,567,000 after buying an additional 987 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of TEGNA by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 59,050 shares of the company's stock worth $1,221,000 after buying an additional 996 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on TEGNA from $17.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, February 9th. Benchmark dropped their price target on TEGNA from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. dropped their price target on TEGNA from $17.00 to $15.00 and set a "neutral" rating for the company in a research note on Friday, March 1st.

TEGNA Price Performance

TGNA stock traded down $0.07 during midday trading on Monday, reaching $14.14. The company had a trading volume of 1,401,594 shares, compared to its average volume of 2,272,115. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 6.26 and a beta of 0.50. The stock has a 50 day moving average price of $14.54 and a 200-day moving average price of $14.90. TEGNA Inc. has a 1-year low of $13.40 and a 1-year high of $17.37. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.48 and a quick ratio of 2.48.

TEGNA (NYSE:TGNA - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). The business had revenue of $725.80 million for the quarter, compared to analyst estimates of $750.78 million. TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The firm's revenue was down 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Equities research analysts expect that TEGNA Inc. will post 3.05 earnings per share for the current year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.114 per share. This represents a $0.46 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA's payout ratio is 20.35%.

Insiders Place Their Bets

In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 725,651 shares of the company's stock, valued at $10,667,069.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO David T. Lougee sold 150,000 shares of the business's 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 sale, 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 accessible through the SEC website. Also, CEO David T. Lougee sold 43,750 shares of the business's 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 owns 725,651 shares in the company, valued at $10,667,069.70. The disclosure for this sale can be found here. Insiders own 0.88% of the company's stock.

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.