Teachers Advisors LLC boosted its position in TEGNA Inc. (NYSE:TGNA) by 50.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 405,634 shares of the company’s stock after buying an additional 135,990 shares during the period. Teachers Advisors LLC owned approximately 0.19% of TEGNA worth $10,392,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. OppenheimerFunds Inc. increased its position in shares of TEGNA by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 15,799 shares of the company’s stock worth $405,000 after buying an additional 67 shares in the last quarter. Conning Inc. increased its position in shares of TEGNA by 0.7% in the first quarter. Conning Inc. now owns 9,970 shares of the company’s stock worth $255,000 after buying an additional 70 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of TEGNA by 0.4% in the first quarter. Advantus Capital Management Inc now owns 21,442 shares of the company’s stock worth $549,000 after buying an additional 95 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of TEGNA by 1.2% in the first quarter. Mason Street Advisors LLC now owns 29,672 shares of the company’s stock worth $760,000 after buying an additional 341 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of TEGNA by 0.6% in the first quarter. ProShare Advisors LLC now owns 60,039 shares of the company’s stock worth $1,538,000 after buying an additional 371 shares in the last quarter. Institutional investors own 90.09% of the company’s stock.
Shares of TEGNA Inc. (NYSE TGNA) traded down 1.58% during midday trading on Friday, reaching $12.46. 1,975,639 shares of the company were exchanged. The company has a market capitalization of $2.68 billion, a PE ratio of 15.23 and a beta of 1.75. TEGNA Inc. has a 52-week low of $12.46 and a 52-week high of $26.65. The firm’s 50 day moving average is $14.10 and its 200-day moving average is $20.62.
TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The firm had revenue of $489.36 million for the quarter, compared to the consensus estimate of $486.29 million. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, equities analysts forecast that TEGNA Inc. will post $1.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.28 annualized dividend and a yield of 2.25%. TEGNA’s payout ratio is presently 16.97%.
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A number of brokerages have recently issued reports on TGNA. ValuEngine upgraded shares of TEGNA from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Noble Financial reiterated a “buy” rating on shares of TEGNA in a report on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $14.00 price target (down previously from $16.00) on shares of TEGNA in a report on Wednesday, August 2nd. BidaskClub downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, FBR & Co cut their price target on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. TEGNA currently has a consensus rating of “Hold” and a consensus price target of $19.79.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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