TEGNA Inc. (TGNA) Stake Lessened by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC lowered its holdings in TEGNA Inc. (NYSE:TGNA) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,817 shares of the company’s stock after selling 50,650 shares during the quarter. MetLife Investment Advisors LLC owned 0.10% of TEGNA worth $2,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN raised its position in TEGNA by 12.7% in the third quarter. Wells Fargo & Company MN now owns 396,558 shares of the company’s stock valued at $4,744,000 after purchasing an additional 44,674 shares during the period. SG Americas Securities LLC raised its holdings in TEGNA by 60.0% during the third quarter. SG Americas Securities LLC now owns 65,780 shares of the company’s stock worth $787,000 after purchasing an additional 24,656 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in TEGNA by 97.4% during the third quarter. JPMorgan Chase & Co. now owns 1,112,667 shares of the company’s stock worth $13,307,000 after purchasing an additional 548,997 shares in the last quarter. Martingale Asset Management L P raised its holdings in TEGNA by 244.8% during the third quarter. Martingale Asset Management L P now owns 162,261 shares of the company’s stock worth $1,941,000 after purchasing an additional 115,202 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of TEGNA by 1.3% in the third quarter. BlackRock Inc. now owns 24,772,555 shares of the company’s stock valued at $296,279,000 after buying an additional 328,696 shares in the last quarter. 95.86% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Neal Shapiro sold 27,613 shares of TEGNA stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $14.72, for a total value of $406,463.36. Following the completion of the transaction, the director now owns 17,478 shares of the company’s stock, valued at approximately $257,276.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Several research analysts have issued reports on the company. Barrington Research reaffirmed a “buy” rating and issued a $17.00 price target on shares of TEGNA in a report on Friday, March 1st. Evercore ISI upgraded shares of TEGNA from an “in-line” rating to an “outperform” rating in a research report on Monday, March 25th. ValuEngine upgraded shares of TEGNA from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 28th. Zacks Investment Research cut shares of TEGNA from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Finally, Noble Financial reiterated a “buy” rating and issued a $14.50 price objective on shares of TEGNA in a report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. TEGNA has a consensus rating of “Hold” and an average target price of $14.15.

NYSE:TGNA traded down $0.17 during trading hours on Friday, reaching $16.22. The company’s stock had a trading volume of 2,490,270 shares, compared to its average volume of 2,768,290. The stock has a market capitalization of $3.51 billion, a PE ratio of 8.86, a P/E/G ratio of 1.24 and a beta of 1.56. TEGNA Inc. has a one year low of $10.00 and a one year high of $16.57. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.20.

TEGNA (NYSE:TGNA) last released its earnings results on Friday, March 1st. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.07. TEGNA had a net margin of 18.18% and a return on equity of 33.72%. The firm had revenue of $642.10 million during the quarter, compared to analyst estimates of $628.71 million. During the same quarter in the previous year, the business earned $0.32 EPS. The business’s revenue was up 31.0% on a year-over-year basis. On average, sell-side analysts forecast that TEGNA Inc. will post 1.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Thursday, March 7th. TEGNA’s dividend payout ratio (DPR) is presently 15.30%.

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TEGNA Company 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.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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