Uniplan Investment Counsel Inc. lifted its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 9.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 472,688 shares of the company’s stock after purchasing an additional 42,544 shares during the quarter. Uniplan Investment Counsel Inc. owned about 0.22% of TEGNA worth $6,811,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. lifted its position in shares of TEGNA by 2.0% during the first quarter. Sei Investments Co. now owns 175,358 shares of the company’s stock worth $4,493,000 after purchasing an additional 3,382 shares in the last quarter. Clark Capital Management Group Inc. acquired a new stake in shares of TEGNA during the first quarter worth about $14,889,000. BNP Paribas Arbitrage SA lifted its position in shares of TEGNA by 11.2% during the first quarter. BNP Paribas Arbitrage SA now owns 179,586 shares of the company’s stock worth $4,601,000 after purchasing an additional 18,019 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of TEGNA by 9.3% during the first quarter. Schroder Investment Management Group now owns 2,076,776 shares of the company’s stock worth $53,705,000 after purchasing an additional 176,474 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of TEGNA by 3.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 975,530 shares of the company’s stock worth $24,994,000 after purchasing an additional 36,990 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.
TGNA has been the topic of several analyst reports. FBR & Co reduced their target price on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday, May 15th. ValuEngine cut shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and set a $16.00 price objective on shares of TEGNA in a report on Thursday, June 1st. Wells Fargo & Company reissued an “outperform” rating and set a $16.50 price objective on shares of TEGNA in a report on Thursday, June 1st. Finally, Benchmark Co. reissued a “buy” rating and set a $20.00 price objective on shares of TEGNA in a report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four 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.
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TEGNA Inc. (NYSE:TGNA) traded down 0.17% during trading on Tuesday, reaching $12.09. 141,548 shares of the company were exchanged. The stock has a market capitalization of $2.60 billion, a PE ratio of 14.78 and a beta of 1.76. TEGNA Inc. has a 52-week low of $11.46 and a 52-week high of $17.06. The firm’s 50 day moving average is $13.31 and its 200 day moving average is $14.99.
TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The firm had revenue of $489.36 million during the quarter, compared to the consensus estimate of $486.29 million. During the same period in the prior year, the business earned $0.50 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts expect that TEGNA Inc. will post $1.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.28 annualized dividend and a dividend yield of 2.31%. TEGNA’s payout ratio is 16.97%.
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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