Signet Financial Management LLC Sells 4,014 Shares of TEGNA Inc. (NYSE:TGNA)

Signet Financial Management LLC decreased its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 17.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,021 shares of the company’s stock after selling 4,014 shares during the period. Signet Financial Management LLC’s holdings in TEGNA were worth $291,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Muhlenkamp & Co. Inc. raised its position in shares of TEGNA by 106.0% in the 3rd quarter. Muhlenkamp & Co. Inc. now owns 431,541 shares of the company’s stock worth $6,288,000 after acquiring an additional 222,103 shares in the last quarter. LSV Asset Management grew its stake in shares of TEGNA by 10.0% in the 3rd quarter. LSV Asset Management now owns 4,668,419 shares of the company’s stock worth $68,019,000 after buying an additional 424,579 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of TEGNA in the 3rd quarter worth approximately $540,000. Vanguard Group Inc. grew its stake in shares of TEGNA by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 24,582,211 shares of the company’s stock worth $358,163,000 after buying an additional 499,171 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of TEGNA by 3.4% in the 3rd quarter. Gabelli Funds LLC now owns 1,875,027 shares of the company’s stock worth $27,319,000 after buying an additional 62,173 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.

Insider Activity

In other news, CEO David T. Lougee sold 43,750 shares of the stock in a transaction on Monday, April 1st. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David T. Lougee sold 150,000 shares of the firm’s 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, CEO David T. Lougee sold 43,750 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the transaction, the chief executive officer now directly 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.

Analysts Set New Price Targets

Several analysts recently weighed in on TGNA shares. JPMorgan Chase & Co. cut their price target on TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Benchmark cut their target price on TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Finally, Wells Fargo & Company cut their target price on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th.

TEGNA Price Performance

NYSE TGNA opened at $13.26 on Thursday. The business’s fifty day moving average price is $14.30 and its 200-day moving average price is $14.85. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 5.87 and a beta of 0.50. 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 Inc. has a 1-year low of $13.18 and a 1-year high of $17.37.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). The firm had revenue of $725.80 million for the quarter, compared to the consensus estimate of $750.78 million. TEGNA had a net margin of 16.38% and a return on equity of 12.41%. TEGNA’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. On average, equities analysts predict that TEGNA Inc. will post 3.05 earnings per share for the current year.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a dividend of $0.114 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.46 annualized dividend and a dividend yield of 3.44%. TEGNA’s payout ratio is 20.35%.

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.