Commonwealth Bank of Australia trimmed its stake in shares of TEGNA Inc. (NYSE:TGNA) by 15.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 131,209 shares of the company’s stock after selling 24,500 shares during the quarter. Commonwealth Bank of Australia’s holdings in TEGNA were worth $1,846,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TGNA. Brandywine Global Investment Management LLC purchased a new position in shares of TEGNA in the 4th quarter worth about $8,039,000. Morgan Stanley boosted its holdings in shares of TEGNA by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,069,876 shares of the company’s stock worth $12,796,000 after purchasing an additional 33,337 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of TEGNA in the 4th quarter worth about $196,000. New Vernon Capital Holdings II LLC boosted its holdings in shares of TEGNA by 23.1% in the 4th quarter. New Vernon Capital Holdings II LLC now owns 32,760 shares of the company’s stock worth $356,000 after purchasing an additional 6,144 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of TEGNA by 1.6% in the 4th quarter. Bank of Montreal Can now owns 74,046 shares of the company’s stock worth $805,000 after purchasing an additional 1,165 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

Shares of NYSE:TGNA opened at $15.07 on Tuesday. TEGNA Inc. has a 52-week low of $10.11 and a 52-week high of $16.57. The company has a market capitalization of $3.28 billion, a PE ratio of 8.23, a PEG ratio of 1.15 and a beta of 1.53. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.61 and a quick ratio of 1.61.

TEGNA (NYSE:TGNA) last announced its earnings results on Thursday, May 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. TEGNA had a return on equity of 30.61% and a net margin of 18.91%. The firm had revenue of $516.80 million during the quarter, compared to analyst estimates of $512.45 million. During the same quarter in the prior year, the company earned $0.33 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that TEGNA Inc. will post 1.31 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, June 6th. TEGNA’s dividend payout ratio (DPR) is presently 15.30%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded TEGNA from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of TEGNA in a report on Friday, May 10th. Noble Financial set a $20.00 price objective on TEGNA and gave the stock a “buy” rating in a report on Friday, May 10th. Barrington Research reiterated a “buy” rating and issued a $17.00 price objective on shares of TEGNA in a report on Friday, March 1st. Finally, Evercore ISI upgraded TEGNA from an “in-line” rating to an “outperform” rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.43.

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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.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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