TEGNA Inc. (TGNA) Position Boosted by Teachers Advisors LLC
Teachers Advisors LLC boosted its stake in shares of TEGNA Inc. (NYSE:TGNA) by 24.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 341,542 shares of the company’s stock after buying an additional 66,067 shares during the period. Teachers Advisors LLC’s holdings in TEGNA were worth $7,466,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Fund Advisors increased its stake in shares of TEGNA by 4.0% in the third quarter. BlackRock Fund Advisors now owns 3,502,581 shares of the company’s stock valued at $76,566,000 after buying an additional 133,930 shares in the last quarter. BlackRock Advisors LLC increased its stake in shares of TEGNA by 3.7% in the third quarter. BlackRock Advisors LLC now owns 231,998 shares of the company’s stock valued at $5,072,000 after buying an additional 8,196 shares in the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of TEGNA by 0.9% in the third quarter. BlackRock Japan Co. Ltd now owns 288,163 shares of the company’s stock valued at $6,299,000 after buying an additional 2,684 shares in the last quarter. ARGI Investment Services LLC increased its stake in shares of TEGNA by 4.2% in the third quarter. ARGI Investment Services LLC now owns 33,805 shares of the company’s stock valued at $739,000 after buying an additional 1,348 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. increased its stake in shares of TEGNA by 2.4% in the third quarter. Bbva Compass Bancshares Inc. now owns 82,845 shares of the company’s stock valued at $1,811,000 after buying an additional 1,966 shares in the last quarter. 85.10% of the stock is owned by hedge funds and other institutional investors.
Shares of TEGNA Inc. (NYSE:TGNA) opened at 21.61 on Friday. The firm has a market cap of $4.63 billion, a PE ratio of 10.71 and a beta of 1.68. The firm has a 50-day moving average of $22.11 and a 200-day moving average of $21.64. TEGNA Inc. has a 52 week low of $17.91 and a 52 week high of $25.38.
TEGNA (NYSE:TGNA) last released its earnings results on Wednesday, November 2nd. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. TEGNA had a net margin of 14.33% and a return on equity of 19.14%. The company had revenue of $860.27 million for the quarter, compared to the consensus estimate of $871.27 million. During the same quarter in the previous year, the company earned $0.37 EPS. TEGNA’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts expect that TEGNA Inc. will post $2.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors 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 dividend on an annualized basis and a dividend yield of 2.59%. TEGNA’s payout ratio is presently 26.67%.
Several equities research analysts have recently issued reports on TGNA shares. J P Morgan Chase & Co reissued a “buy” rating and set a $23.00 price objective on shares of TEGNA in a research report on Thursday, November 3rd. Stephens downgraded shares of TEGNA from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 3rd. Wells Fargo & Company reissued a “hold” rating on shares of TEGNA in a research report on Monday, September 26th. FBR & Co raised their target price on shares of TEGNA from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, December 8th. Finally, Barclays PLC reaffirmed a “sell” rating and issued a $20.00 target price on shares of TEGNA in a research report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $25.88.
In related news, insider Gracia C. Martore sold 140,179 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $22.28, for a total transaction of $3,123,188.12. Following the transaction, the insider now owns 30,034 shares in the company, valued at approximately $669,157.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.68% of the company’s stock.
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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