Segall Bryant & Hamill LLC Sells 16,403 Shares of TEGNA Inc. $TGNA

Segall Bryant & Hamill LLC lowered its stake in TEGNA Inc. (NYSE:TGNA) by 6.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 258,011 shares of the company’s stock after selling 16,403 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in TEGNA were worth $4,324,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in TEGNA in the second quarter worth $38,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of TEGNA by 1,018.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,997 shares of the company’s stock valued at $50,000 after acquiring an additional 2,729 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of TEGNA by 13,896.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 3,919 shares of the company’s stock worth $66,000 after purchasing an additional 3,891 shares during the last quarter. Amundi boosted its stake in TEGNA by 1,507.5% in the 1st quarter. Amundi now owns 4,067 shares of the company’s stock worth $74,000 after purchasing an additional 3,814 shares in the last quarter. Finally, Strs Ohio bought a new position in TEGNA in the 1st quarter worth about $86,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analysts Forecast Growth

TGNA has been the subject of a number of analyst reports. Guggenheim restated a “neutral” rating and set a $19.00 price objective on shares of TEGNA in a research note on Friday, August 22nd. Zacks Research cut shares of TEGNA from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Wells Fargo & Company downgraded shares of TEGNA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TEGNA in a report on Monday, November 17th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.75.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $19.29 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 6.94 and a beta of 0.25. The business has a 50-day simple moving average of $20.12 and a two-hundred day simple moving average of $18.72. TEGNA Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $21.35.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The company had revenue of $650.79 million during the quarter, compared to the consensus estimate of $658.28 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The business’s revenue was down 19.3% compared to the same quarter last year. On average, analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, December 5th. TEGNA’s payout ratio is 23.58%.

TEGNA 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.