Rothschild Investment Corp IL boosted its stake in TEGNA Inc. (NYSE:TGNA) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,926 shares of the company’s stock after buying an additional 800 shares during the period. Rothschild Investment Corp IL’s holdings in TEGNA were worth $489,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Korea Investment CORP bought a new position in TEGNA during the first quarter valued at approximately $1,278,000. First Manhattan Co. boosted its position in shares of TEGNA by 119.9% in the first quarter. First Manhattan Co. now owns 30,424 shares of the company’s stock worth $665,000 after buying an additional 16,591 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of TEGNA by 2.1% in the first quarter. Retirement Systems of Alabama now owns 103,791 shares of the company’s stock worth $2,659,000 after buying an additional 2,165 shares in the last quarter. Huntington National Bank boosted its position in shares of TEGNA by 3,846.0% in the first quarter. Huntington National Bank now owns 11,838 shares of the company’s stock worth $303,000 after buying an additional 11,538 shares in the last quarter. Finally, DnB Asset Management AS boosted its position in shares of TEGNA by 27.5% in the first quarter. DnB Asset Management AS now owns 15,779 shares of the company’s stock worth $404,000 after buying an additional 3,400 shares in the last quarter. 88.32% of the stock is owned by institutional investors and hedge funds.
Shares of TEGNA Inc. (TGNA) opened at 13.02 on Friday. TEGNA Inc. has a one year low of $12.78 and a one year high of $26.65. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 15.92 and a beta of 1.75. The firm’s 50-day moving average is $14.36 and its 200-day moving average is $20.96.
TEGNA (NYSE:TGNA) last issued its earnings results on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The firm had revenue of $489.36 million during 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 quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Analysts expect that TEGNA Inc. will post $1.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 7th. TEGNA’s dividend payout ratio (DPR) is currently 16.97%.
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A number of equities analysts have recently issued reports on the stock. BidaskClub cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Noble Financial restated a “buy” rating on shares of TEGNA in a research note on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and issued a $14.00 price objective (down previously from $16.00) on shares of TEGNA in a research note on Wednesday, August 2nd. FBR & Co dropped their price objective on shares of TEGNA from $24.00 to $16.00 and set a “mkt perform” rating for the company in a research note on Friday, July 28th. Finally, ValuEngine upgraded shares of TEGNA from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.44.
TEGNA Company Profile
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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