Signet Financial Management LLC Has $317,000 Holdings in TEGNA Inc. (NYSE:TGNA)

Signet Financial Management LLC lifted its stake in shares of TEGNA Inc. (NYSE:TGNA) by 11.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,230 shares of the company’s stock after buying an additional 2,209 shares during the period. Signet Financial Management LLC’s holdings in TEGNA were worth $317,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of TEGNA by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company’s stock worth $387,502,000 after purchasing an additional 744,721 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of TEGNA by 17.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company’s stock worth $157,506,000 after purchasing an additional 1,501,986 shares during the last quarter. LSV Asset Management grew its stake in shares of TEGNA by 16.7% in the fourth quarter. LSV Asset Management now owns 5,449,571 shares of the company’s stock worth $83,378,000 after purchasing an additional 781,152 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of TEGNA by 190.5% in the third quarter. AQR Capital Management LLC now owns 3,224,755 shares of the company’s stock worth $46,985,000 after purchasing an additional 2,114,826 shares during the last quarter. Finally, Norges Bank bought a new stake in TEGNA during the fourth quarter valued at $38,009,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TEGNA

In other news, CEO David T. Lougee sold 43,750 shares of TEGNA stock in a transaction 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 completion of the sale, 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 accessible through this hyperlink. In other news, CEO David T. Lougee sold 43,750 shares of TEGNA stock in a transaction 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 completion of the sale, 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 accessible through this hyperlink. Also, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction on Friday, June 7th. The stock was sold at an average price of $13.99, for a total transaction of $349,750.00. Following the sale, the chief operating officer now directly owns 190,474 shares of the company’s stock, valued at $2,664,731.26. The disclosure for this sale can be found here. Insiders sold a total of 155,656 shares of company stock valued at $2,339,970 in the last three months. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on TGNA shares. Benchmark cut their price target on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. JPMorgan Chase & Co. cut 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.

TEGNA Stock Performance

Shares of TGNA stock traded down $0.34 during trading hours on Thursday, hitting $13.39. 280,962 shares of the company were exchanged, compared to its average volume of 2,162,338. The firm has a fifty day simple moving average of $14.13 and a 200 day simple moving average of $14.57. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $17.37. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 4.80 and a beta of 0.51.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $714.30 million during the quarter, compared to the consensus estimate of $718.86 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. TEGNA’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. Research analysts predict that TEGNA Inc. will post 3.11 earnings per share for the current fiscal year.

TEGNA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.73%. This is an increase from TEGNA’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, June 7th. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

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.