Dean Capital Management Sells 13,445 Shares of TEGNA Inc. (NYSE:TGNA)

Dean Capital Management lessened its stake in TEGNA Inc. (NYSE:TGNA) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,393 shares of the company’s stock after selling 13,445 shares during the period. TEGNA makes up about 1.0% of Dean Capital Management’s holdings, making the stock its 20th biggest holding. Dean Capital Management owned 0.06% of TEGNA worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TGNA. Parallel Advisors LLC raised its holdings in shares of TEGNA by 142.1% during the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after buying an additional 983 shares in the last quarter. Covestor Ltd boosted its stake in shares of TEGNA by 94.3% in the 3rd quarter. Covestor Ltd now owns 2,741 shares of the company’s stock valued at $40,000 after purchasing an additional 1,330 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of TEGNA by 34.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock valued at $65,000 after purchasing an additional 1,145 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of TEGNA by 32.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock valued at $74,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in TEGNA in the 3rd quarter worth $97,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Trading Down 2.0 %

TGNA traded down $0.29 during trading on Monday, hitting $13.87. 2,009,076 shares of the stock traded hands, compared to its average volume of 2,072,408. The firm has a market capitalization of $2.35 billion, a P/E ratio of 4.85 and a beta of 0.51. TEGNA Inc. has a 12-month low of $13.18 and a 12-month high of $17.37. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.53 and a quick ratio of 2.53. The firm has a 50-day moving average of $14.29 and a 200 day moving average of $14.75.

TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The company had revenue of $714.30 million during the quarter, compared to analyst estimates of $718.86 million. During the same period in the prior year, the business posted $0.47 earnings per share. TEGNA’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts anticipate that TEGNA Inc. will post 3.11 EPS for the current year.

TEGNA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.125 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.50 annualized dividend and a yield of 3.60%. This is a boost from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s payout ratio is 17.48%.

Analysts Set New Price Targets

Several analysts have issued reports on TGNA shares. Benchmark cut their price target on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 1st.

Insider Transactions at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $13.99, for a total transaction of $349,750.00. Following the completion of the sale, the chief operating officer now directly owns 190,474 shares in the company, valued at approximately $2,664,731.26. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, 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 completion of the sale, the chief executive officer now directly owns 725,651 shares in the company, valued at $10,667,069.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were 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. In the last ninety days, insiders sold 155,656 shares of company stock valued at $2,339,970. Company insiders own 0.88% of the company’s stock.

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.