TEGNA Inc. $TGNA Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in TEGNA Inc. (NYSE:TGNA) by 31.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 58,360 shares of the company’s stock after selling 26,708 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in TEGNA were worth $1,186,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Financial Consulate Inc. acquired a new position in shares of TEGNA during the third quarter worth about $29,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in TEGNA in the 2nd quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd increased its position in TEGNA by 1,018.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,997 shares of the company’s stock worth $50,000 after purchasing an additional 2,729 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of TEGNA by 81.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,963 shares of the company’s stock worth $66,000 after buying an additional 1,781 shares in the last quarter. Finally, Amundi lifted its holdings in shares of TEGNA by 1,507.5% in the 1st quarter. Amundi now owns 4,067 shares of the company’s stock valued at $74,000 after buying an additional 3,814 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TGNA shares. Wells Fargo & Company lowered TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of TEGNA from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.75.

TEGNA Stock Up 1.4%

TEGNA stock opened at $19.15 on Friday. TEGNA Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $21.35. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 9.03 and a beta of 0.13. The stock’s fifty day moving average is $19.27 and its two-hundred day moving average is $19.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.22 and a current ratio of 2.22.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Monday, November 10th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $650.79 million during the quarter, compared to analysts’ expectations of $658.28 million. TEGNA had a return on equity of 12.50% and a net margin of 11.97%.TEGNA’s quarterly revenue was down 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were given a $0.125 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.50 annualized dividend and a dividend yield of 2.6%. TEGNA’s dividend payout ratio is currently 23.58%.

TEGNA Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.