Demars Financial Group LLC Cuts Stake in TEGNA Inc. (NYSE:TGNA)

Demars Financial Group LLC trimmed its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 82.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,845 shares of the company's stock after selling 162,733 shares during the quarter. Demars Financial Group LLC's holdings in TEGNA were worth $518,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in shares of TEGNA by 1.0% in the fourth quarter. New York State Common Retirement Fund now owns 108,212 shares of the company's stock valued at $1,656,000 after buying an additional 1,074 shares in the last quarter. Foster & Motley Inc. lifted its stake in shares of TEGNA by 89.3% in the fourth quarter. Foster & Motley Inc. now owns 22,208 shares of the company's stock valued at $340,000 after buying an additional 10,477 shares in the last quarter. Signaturefd LLC lifted its stake in shares of TEGNA by 437.5% in the fourth quarter. Signaturefd LLC now owns 9,686 shares of the company's stock valued at $148,000 after buying an additional 7,884 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of TEGNA in the fourth quarter valued at $846,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of TEGNA by 30.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 75,314 shares of the company's stock valued at $1,152,000 after buying an additional 17,515 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at TEGNA

In other news, CEO David T. Lougee sold 150,000 shares of TEGNA stock in a transaction dated Monday, February 5th. The shares were 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 owns 636,262 shares in the company, valued at $9,677,545.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David T. Lougee sold 150,000 shares of TEGNA stock in a transaction dated Monday, February 5th. The shares were 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 owns 636,262 shares in the company, valued at $9,677,545.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David T. Lougee sold 43,750 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction of $643,125.00. Following the transaction, the chief executive officer now directly owns 725,651 shares of the company's stock, valued at approximately $10,667,069.70. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company's stock.

TEGNA Stock Up 0.7 %

Shares of TGNA traded up $0.09 during trading hours on Wednesday, reaching $13.81. 1,300,537 shares of the stock traded hands, compared to its average volume of 2,157,704. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 6.11 and a beta of 0.50. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. TEGNA Inc. has a 52 week low of $13.18 and a 52 week high of $17.37. The stock has a fifty day simple moving average of $14.25 and a 200 day simple moving average of $14.85.

TEGNA (NYSE:TGNA - Get Free Report) last announced 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 the consensus estimate of $750.78 million. TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The business's revenue was down 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. On average, equities analysts forecast that TEGNA Inc. will post 3.05 EPS for the current year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.114 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.46 annualized dividend and a dividend yield of 3.30%. TEGNA's payout ratio is 20.35%.

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.