Crossmark Global Holdings Inc. Sells 10,958 Shares of TEGNA Inc. (NYSE:TGNA)

Crossmark Global Holdings Inc. cut its stake in shares of TEGNA Inc. (NYSE:TGNA) by 1.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 563,812 shares of the company’s stock after selling 10,958 shares during the period. Crossmark Global Holdings Inc.’s holdings in TEGNA were worth $7,859,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of TEGNA during the fourth quarter worth approximately $38,009,000. Dimensional Fund Advisors LP raised its stake in shares of TEGNA by 17.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company’s stock worth $157,506,000 after acquiring an additional 1,501,986 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of TEGNA by 5.8% during the first quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock worth $400,371,000 after acquiring an additional 1,471,691 shares in the last quarter. LSV Asset Management raised its stake in shares of TEGNA by 16.7% during the fourth quarter. LSV Asset Management now owns 5,449,571 shares of the company’s stock worth $83,378,000 after acquiring an additional 781,152 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of TEGNA during the fourth quarter worth approximately $7,477,000. 92.19% of the stock is currently owned by institutional investors.

TEGNA Trading Up 0.9 %

Shares of NYSE TGNA traded up $0.12 during mid-day trading on Friday, hitting $13.88. The stock had a trading volume of 3,981,864 shares, compared to its average volume of 2,110,632. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.53 and a current ratio of 2.53. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $16.67. The business has a 50 day moving average price of $14.49 and a two-hundred day moving average price of $14.32. The firm has a market cap of $2.35 billion, a P/E ratio of 4.85 and a beta of 0.51.

TEGNA (NYSE:TGNA) last released its earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $710.36 million during the quarter, compared to analyst estimates of $715.40 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. On average, equities analysts anticipate that TEGNA Inc. will post 3.11 EPS for the current fiscal year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.60%. TEGNA’s dividend payout ratio is currently 17.48%.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and set a $21.00 price target on shares of TEGNA in a research note on Thursday, August 8th.

Insider Activity

In related news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $13.99, for a total value 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 $2,664,731.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other TEGNA news, CEO David T. Lougee sold 98,437 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $13.98, for a total value of $1,376,149.26. Following the completion of the sale, the chief executive officer now owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $13.99, for a total value of $349,750.00. Following the completion of the sale, the chief operating officer now directly owns 190,474 shares of the company’s stock, valued at approximately $2,664,731.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,467 shares of company stock worth $1,726,313. 0.88% of the stock is currently owned by insiders.

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.