Uniplan Investment Counsel Inc. lowered its stake in shares of Tegna Inc (NYSE:TGNA) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 451,693 shares of the company’s stock after selling 20,995 shares during the period. Uniplan Investment Counsel Inc. owned 0.21% of Tegna worth $6,021,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. HPM Partners LLC boosted its stake in shares of Tegna by 0.6% during the second quarter. HPM Partners LLC now owns 12,764 shares of the company’s stock valued at $184,000 after acquiring an additional 77 shares during the last quarter. Synovus Financial Corp boosted its stake in Tegna by 4.4% in the 2nd quarter. Synovus Financial Corp now owns 10,304 shares of the company’s stock worth $148,000 after buying an additional 438 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Tegna by 4.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,599 shares of the company’s stock worth $182,000 after buying an additional 499 shares during the last quarter. Aviva PLC boosted its stake in Tegna by 0.5% in the 2nd quarter. Aviva PLC now owns 133,517 shares of the company’s stock worth $1,924,000 after buying an additional 710 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Tegna by 2.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 42,256 shares of the company’s stock worth $609,000 after buying an additional 1,067 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Todd A. Mayman sold 36,830 shares of Tegna stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $12.63, for a total value of $465,162.90. Following the completion of the transaction, the executive vice president now owns 19,420 shares in the company, valued at approximately $245,274.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Clifton A. Mcclelland III sold 7,740 shares of Tegna stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total value of $105,960.60. Following the completion of the transaction, the senior vice president now owns 32,335 shares of the company’s stock, valued at approximately $442,666.15. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.
Shares of Tegna Inc (NYSE TGNA) traded down $0.03 during trading hours on Friday, hitting $14.08. The company had a trading volume of 2,508,446 shares, compared to its average volume of 2,656,545. The stock has a market cap of $3,036.55, a P/E ratio of 10.51, a P/E/G ratio of 10.61 and a beta of 1.72. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 4.30. Tegna Inc has a 1-year low of $11.59 and a 1-year high of $17.08.
Tegna (NYSE:TGNA) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. Tegna had a return on equity of 20.50% and a net margin of 11.10%. The company had revenue of $464.26 million for the quarter, compared to the consensus estimate of $463.23 million. During the same period in the previous year, the business earned $0.65 EPS. Tegna’s revenue for the quarter was down 10.7% compared to the same quarter last year. equities research analysts expect that Tegna Inc will post 1.08 EPS for the current year.
Tegna declared that its board has initiated a share buyback plan on Tuesday, September 19th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 11.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.28 annualized dividend and a yield of 1.99%. Tegna’s dividend payout ratio is presently 20.90%.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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