Demars Financial Group LLC Sells 162,733 Shares of TEGNA Inc. (NYSE:TGNA)

Demars Financial Group LLC trimmed its position in shares of TEGNA Inc. (NYSE:TGNA) by 82.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,845 shares of the company’s stock after selling 162,733 shares during the quarter. Demars Financial Group LLC’s holdings in TEGNA were worth $518,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TGNA. Covestor Ltd boosted its position in TEGNA by 94.3% during the 3rd quarter. Covestor Ltd now owns 2,741 shares of the company’s stock valued at $40,000 after acquiring an additional 1,330 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of TEGNA by 925.4% during the third quarter. EverSource Wealth Advisors LLC now owns 3,630 shares of the company’s stock valued at $53,000 after purchasing an additional 3,276 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of TEGNA by 34.4% during the third 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 during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of TEGNA during the third quarter valued at approximately $97,000. Finally, Signaturefd LLC lifted its holdings in shares of TEGNA by 437.5% during the fourth quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock valued at $148,000 after purchasing an additional 7,884 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Price Performance

Shares of TGNA opened at $13.68 on Wednesday. The firm has a market cap of $2.41 billion, a PE ratio of 6.07 and a beta of 0.50. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. The firm has a fifty day simple moving average of $14.26 and a two-hundred day simple moving average of $14.85. TEGNA Inc. has a 1-year low of $13.18 and a 1-year high of $17.37.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). The business 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%. The company’s revenue was down 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. On average, equities analysts anticipate that TEGNA Inc. will post 3.05 EPS for the current year.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.114 dividend. This represents a $0.46 annualized dividend and a yield of 3.33%. The ex-dividend date was Thursday, March 7th. TEGNA’s dividend payout ratio is currently 20.35%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Benchmark lowered their target price on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. decreased their price objective on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 1st. Finally, Wells Fargo & Company decreased their price objective on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 9th.

Insider Buying and Selling

In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the stock in a transaction dated 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 transaction, the chief executive officer now 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 can be accessed through the SEC website. In other news, CEO David T. Lougee sold 150,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the sale, the chief executive officer now directly owns 636,262 shares in the company, valued at approximately $9,677,545.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David T. Lougee sold 43,750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction 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 disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

TEGNA Company 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.