Insider Selling: Tegna Inc (TGNA) Director Sells 12,385 Shares of Stock

Tegna Inc (NYSE:TGNA) Director Neal Shapiro sold 12,385 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $12.57, for a total value of $155,679.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

NYSE:TGNA opened at $10.96 on Friday. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.96 and a quick ratio of 1.96. Tegna Inc has a 1 year low of $10.46 and a 1 year high of $16.83. The firm has a market capitalization of $2,363.01, a price-to-earnings ratio of 9.37, a PEG ratio of 5.27 and a beta of 1.57.

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Tegna (NYSE:TGNA) last announced its quarterly earnings results on Thursday, March 1st. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $480.45 million during the quarter, compared to analysts’ expectations of $491.79 million. Tegna had a return on equity of 19.56% and a net margin of 20.74%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. equities research analysts predict that Tegna Inc will post 1.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, March 8th. Tegna’s dividend payout ratio (DPR) is presently 25.93%.

TGNA has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “hold” rating and set a $14.00 price target on shares of Tegna in a report on Tuesday, April 3rd. B. Riley dropped their price target on Tegna from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, March 20th. Zacks Investment Research lowered Tegna from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Barclays reiterated an “underweight” rating on shares of Tegna in a report on Monday, March 5th. Finally, Noble Financial reiterated a “buy” rating on shares of Tegna in a report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.67.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tegna by 35.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,029 shares of the company’s stock valued at $198,000 after purchasing an additional 3,692 shares in the last quarter. American International Group Inc. grew its position in shares of Tegna by 0.8% in the fourth quarter. American International Group Inc. now owns 488,553 shares of the company’s stock valued at $6,879,000 after purchasing an additional 4,098 shares in the last quarter. Iberiabank Corp grew its position in shares of Tegna by 32.4% in the fourth quarter. Iberiabank Corp now owns 17,687 shares of the company’s stock valued at $249,000 after purchasing an additional 4,330 shares in the last quarter. Twin Focus Capital Partners LLC grew its position in shares of Tegna by 17.3% in the fourth quarter. Twin Focus Capital Partners LLC now owns 34,597 shares of the company’s stock valued at $487,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in shares of Tegna by 50.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 16,494 shares of the company’s stock valued at $232,000 after purchasing an additional 5,508 shares in the last quarter. Institutional investors own 99.91% of the company’s stock.

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Tegna Company Profile

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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