DekaBank Deutsche Girozentrale Has $8.39 Million Position in TEGNA Inc. (NYSE:TGNA)

DekaBank Deutsche Girozentrale boosted its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 467,656 shares of the company's stock after acquiring an additional 15,728 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.29% of TEGNA worth $8,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in TEGNA in the 4th quarter valued at $27,000. Neo Ivy Capital Management purchased a new position in TEGNA in the fourth quarter worth $28,000. Tower Research Capital LLC TRC raised its stake in shares of TEGNA by 80.2% during the 4th 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. Aster Capital Management DIFC Ltd bought a new position in shares of TEGNA during the 4th quarter valued at about $32,000. Finally, GAMMA Investing LLC raised its position in shares of TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after acquiring an additional 1,088 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Stock Down 2.9%

TGNA traded down $0.51 during trading on Tuesday, hitting $16.78. The company had a trading volume of 1,569,940 shares, compared to its average volume of 1,830,273. The company has a market capitalization of $2.70 billion, a PE ratio of 5.91 and a beta of 0.30. The firm's 50-day moving average price is $16.86 and its 200 day moving average price is $17.34. TEGNA Inc. has a one year low of $13.37 and a one year high of $19.62. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

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

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, June 6th. TEGNA's dividend payout ratio is currently 17.61%.

Analyst Ratings Changes

TGNA has been the subject of several research reports. Benchmark dropped their price target on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Wells Fargo & Company reduced their price objective on TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, Guggenheim decreased 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.00.

About TEGNA

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.