TEGNA Inc. $TGNA Shares Sold by Swiss National Bank

Swiss National Bank reduced its holdings in TEGNA Inc. (NYSE:TGNA) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 307,100 shares of the company’s stock after selling 5,100 shares during the quarter. Swiss National Bank owned 0.19% of TEGNA worth $5,147,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its stake in shares of TEGNA by 48.7% during the first quarter. Public Sector Pension Investment Board now owns 596,868 shares of the company’s stock valued at $10,875,000 after purchasing an additional 195,396 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in TEGNA in the 1st quarter valued at about $5,371,000. Deutsche Bank AG increased its stake in TEGNA by 383.6% during the 1st quarter. Deutsche Bank AG now owns 756,941 shares of the company’s stock valued at $13,791,000 after buying an additional 600,407 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of TEGNA during the 1st quarter worth about $405,000. Finally, FORA Capital LLC bought a new stake in shares of TEGNA during the 1st quarter worth about $228,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Trading Down 0.6%

TEGNA stock opened at $19.41 on Tuesday. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 6.98 and a beta of 0.25. TEGNA Inc. has a 1 year low of $14.87 and a 1 year high of $21.35. The firm’s 50 day moving average price is $19.98 and its two-hundred day moving average price is $18.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $650.79 million for the quarter, compared to the consensus estimate of $658.28 million. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business’s revenue was down 19.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. On average, research analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be given a $0.125 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.6%. TEGNA’s dividend payout ratio (DPR) is 23.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TGNA shares. Guggenheim reiterated a “neutral” rating and set a $19.00 price objective on shares of TEGNA in a research note on Friday, August 22nd. Wells Fargo & Company lowered TEGNA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Zacks Research downgraded TEGNA from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a research note on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.75.

TEGNA Company 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.