LMR Partners LLP Increases Position in TEGNA Inc. (TGNA)

LMR Partners LLP boosted its position in shares of TEGNA Inc. (NYSE:TGNA) by 1,303.2% during the second quarter, Holdings Channel reports. The fund owned 218,275 shares of the company’s stock after buying an additional 202,720 shares during the period. LMR Partners LLP’s holdings in TEGNA were worth $3,146,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. OppenheimerFunds Inc. boosted its position in TEGNA by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 15,799 shares of the company’s stock valued at $405,000 after buying an additional 67 shares during the last quarter. Conning Inc. boosted its position in TEGNA by 0.7% in the first quarter. Conning Inc. now owns 9,970 shares of the company’s stock valued at $255,000 after buying an additional 70 shares during the last quarter. Advantus Capital Management Inc boosted its position in TEGNA by 0.4% in the first quarter. Advantus Capital Management Inc now owns 21,442 shares of the company’s stock valued at $549,000 after buying an additional 95 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in TEGNA by 0.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 28,193 shares of the company’s stock valued at $722,000 after buying an additional 153 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its position in TEGNA by 1.2% in the first quarter. Mason Street Advisors LLC now owns 29,672 shares of the company’s stock valued at $760,000 after buying an additional 341 shares during the last quarter. 90.09% of the stock is owned by institutional investors and hedge funds.

TEGNA Inc. (NYSE TGNA) opened at 12.99 on Tuesday. The firm has a market cap of $2.79 billion, a PE ratio of 15.88 and a beta of 1.75. TEGNA Inc. has a 52-week low of $12.78 and a 52-week high of $26.65. The firm’s 50-day moving average price is $14.32 and its 200 day moving average price is $20.87.

TEGNA (NYSE:TGNA) last announced 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 for the quarter, compared to analysts’ expectations of $486.29 million. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share. On average, equities analysts anticipate that TEGNA Inc. will post $1.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.28 annualized dividend and a yield of 2.16%. TEGNA’s dividend payout ratio (DPR) is 16.97%.

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Several research analysts recently commented on the company. FBR & Co lowered their target price on TEGNA from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, May 5th. ValuEngine cut TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and set a $16.00 target price on shares of TEGNA in a research note on Thursday, June 1st. Wells Fargo & Company reissued an “outperform” rating and set a $16.50 target price on shares of TEGNA in a research note on Thursday, June 1st. Finally, Benchmark Co. reissued a “buy” rating and set a $20.00 target price on shares of TEGNA in a research note on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. TEGNA currently has a consensus rating of “Hold” and an average target price of $19.79.

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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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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