TEGNA Inc. (NYSE:TGNA) Shares Acquired by Alps Advisors Inc.

Alps Advisors Inc. lifted its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,568 shares of the company's stock after acquiring an additional 53,273 shares during the period. Alps Advisors Inc. owned 0.33% of TEGNA worth $9,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in TEGNA during the fourth quarter worth approximately $27,000. Neo Ivy Capital Management purchased a new position in TEGNA during the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its position in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after buying an additional 832 shares in the last quarter. Tower Research Capital LLC TRC raised its position in TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after purchasing an additional 749 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in TEGNA in the fourth quarter valued at $32,000. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on TGNA shares. Wells Fargo & Company reduced their target price on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Benchmark reduced their target price on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Guggenheim cut their price objective on TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. cut their price objective on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $20.00.

TEGNA Trading Up 0.9%

Shares of TGNA stock traded up $0.16 on Monday, hitting $17.26. The stock had a trading volume of 1,159,861 shares, compared to its average volume of 1,535,275. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $2.77 billion, a P/E ratio of 6.08 and a beta of 0.30. TEGNA Inc. has a 1 year low of $13.37 and a 1 year high of $19.62. The company's 50 day moving average price is $16.86 and its 200-day moving average price is $17.34.

TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. The firm had revenue of $680.05 million during the quarter, compared to analysts' expectations of $677.24 million. During the same period in the previous year, the firm posted $0.45 EPS. TEGNA's revenue for the quarter was down 4.8% on a year-over-year basis. Analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, June 6th. This represents a $0.50 annualized dividend and a yield of 2.90%. TEGNA's payout ratio is 17.61%.

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.