Outfitter Financial LLC Purchases 900 Shares of TEGNA Inc. (NYSE:TGNA)

Outfitter Financial LLC grew its position in TEGNA Inc. (NYSE:TGNA) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,750 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Outfitter Financial LLC’s holdings in TEGNA were worth $731,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TGNA. Covestor Ltd boosted its position in shares of TEGNA by 94.3% in the 3rd quarter. Covestor Ltd now owns 2,741 shares of the company’s stock worth $40,000 after purchasing an additional 1,330 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of TEGNA by 925.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,630 shares of the company’s stock worth $53,000 after purchasing an additional 3,276 shares during the last quarter. Parkside Financial Bank & Trust boosted its position 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 worth $65,000 after purchasing an additional 1,145 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of TEGNA in the 3rd quarter worth $97,000. Finally, Signaturefd LLC boosted its position in shares of TEGNA by 437.5% in the 4th quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock worth $148,000 after purchasing an additional 7,884 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at TEGNA

In related news, CEO David T. Lougee sold 43,750 shares of the firm’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 value of $643,125.00. Following the sale, the chief executive officer now owns 725,651 shares in the company, valued at $10,667,069.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.88% of the company’s stock.

TEGNA Trading Up 1.6 %

TEGNA stock traded up $0.24 during trading hours on Friday, reaching $15.27. 373,098 shares of the company’s stock were exchanged, compared to its average volume of 2,119,706. TEGNA Inc. has a twelve month low of $13.18 and a twelve month high of $17.37. The firm’s 50 day simple moving average is $14.22 and its 200 day simple moving average is $14.83. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $2.69 billion, a PE ratio of 6.65 and a beta of 0.50.

TEGNA (NYSE:TGNA) last announced its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. TEGNA had a net margin of 16.38% and a return on equity of 12.41%. 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 previous year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Research analysts predict that TEGNA Inc. will post 3.14 earnings per share for the current year.

TEGNA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.125 per share. This is an increase from TEGNA’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, June 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.27%. TEGNA’s dividend payout ratio (DPR) is currently 19.91%.

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.