TEGNA Inc. (TGNA) Shares Bought by Pacer Advisors Inc.
Pacer Advisors Inc. boosted its position in shares of TEGNA Inc. (NYSE:TGNA) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,710 shares of the company’s stock after buying an additional 1,774 shares during the period. Pacer Advisors Inc.’s holdings in TEGNA were worth $562,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Advisor Group Inc. raised its position in TEGNA by 44.6% in the third quarter. Advisor Group Inc. now owns 5,436 shares of the company’s stock valued at $115,000 after buying an additional 1,676 shares during the last quarter. Toronto Dominion Bank raised its position in TEGNA by 440.0% in the third quarter. Toronto Dominion Bank now owns 6,194 shares of the company’s stock valued at $135,000 after buying an additional 5,047 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in TEGNA during the second quarter valued at approximately $151,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in TEGNA during the second quarter valued at approximately $204,000. Finally, Investment Partners Ltd. OH ADV bought a new position in TEGNA during the third quarter valued at approximately $212,000. 85.10% of the stock is owned by institutional investors and hedge funds.
Shares of TEGNA Inc. (NYSE:TGNA) traded down 0.46% on Friday, reaching $21.61. The company had a trading volume of 977,313 shares. TEGNA Inc. has a 52 week low of $17.91 and a 52 week high of $25.38. The company has a market capitalization of $4.63 billion, a P/E ratio of 10.71 and a beta of 1.68. The company has a 50 day moving average of $22.11 and a 200-day moving average of $21.64.
TEGNA (NYSE:TGNA) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. TEGNA had a return on equity of 19.14% and a net margin of 14.33%. The business earned $860.27 million during the quarter, compared to analyst estimates of $871.27 million. During the same period last year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. Analysts predict that TEGNA Inc. will post $2.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. TEGNA’s dividend payout ratio is currently 26.67%.
Several research analysts have recently commented on TGNA shares. Wells Fargo & Company reissued a “hold” rating on shares of TEGNA in a research report on Monday, September 26th. FBR & Co raised TEGNA from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $24.00 to $26.00 in a research report on Tuesday, November 1st. Stephens lowered TEGNA from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 3rd. Barclays PLC reissued a “sell” rating and issued a $20.00 price target on shares of TEGNA in a research report on Thursday, November 3rd. Finally, J P Morgan Chase & Co reissued a “buy” rating and issued a $23.00 price target on shares of TEGNA in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.88.
In other news, insider Gracia C. Martore sold 140,179 shares of the firm’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $22.28, for a total transaction of $3,123,188.12. Following the completion of the transaction, the insider now directly owns 30,034 shares in the company, valued at $669,157.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.68% of the company’s stock.
TEGNA Company Profile
TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.
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