Deutsche Bank AG Acquires 50,206 Shares of TEGNA Inc. (NYSE:TGNA)

Deutsche Bank AG increased its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 47.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 156,534 shares of the company's stock after buying an additional 50,206 shares during the quarter. Deutsche Bank AG owned about 0.10% of TEGNA worth $2,863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TGNA. Jones Financial Companies Lllp bought a new position in TEGNA in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC raised its stake in shares of TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after purchasing an additional 832 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of 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 in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of TEGNA in the fourth quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC purchased a new position in shares of TEGNA during the fourth quarter valued at approximately $57,000. Institutional investors own 92.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TGNA shares. Wall Street Zen cut TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Benchmark lowered their target price on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Guggenheim increased their price objective on shares of TEGNA from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their target price on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.

TEGNA Stock Performance

TGNA stock traded up $0.16 during mid-day trading on Tuesday, hitting $16.80. The company had a trading volume of 40,751 shares, compared to its average volume of 1,959,316. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The firm has a market cap of $2.70 billion, a PE ratio of 5.93 and a beta of 0.31. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The stock's fifty day moving average price is $16.90 and its two-hundred day moving average price is $17.74.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.03. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company had revenue of $680.05 million during the quarter, compared to analyst estimates of $677.24 million. During the same quarter last year, the business posted $0.45 EPS. TEGNA's quarterly revenue was down 4.8% compared to the same quarter last year. On average, analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

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

TEGNA 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.