Inspire Advisors LLC Invests $335,000 in TEGNA Inc. (NYSE:TGNA)

Inspire Advisors LLC bought a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,402 shares of the company's stock, valued at approximately $335,000.

A number of other large investors also recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of TEGNA by 8.3% during the fourth quarter. Northern Trust Corp now owns 2,865,335 shares of the company's stock worth $52,407,000 after purchasing an additional 219,706 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of TEGNA by 7.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,233,329 shares of the company's stock worth $22,558,000 after purchasing an additional 85,113 shares during the period. Principal Financial Group Inc. increased its stake in shares of TEGNA by 2.5% during the first quarter. Principal Financial Group Inc. now owns 934,711 shares of the company's stock worth $17,030,000 after purchasing an additional 23,094 shares during the period. Victory Capital Management Inc. increased its stake in shares of TEGNA by 1.1% during the first quarter. Victory Capital Management Inc. now owns 918,416 shares of the company's stock worth $16,734,000 after purchasing an additional 10,249 shares during the period. Finally, Invesco Ltd. increased its stake in TEGNA by 14.6% during the 4th quarter. Invesco Ltd. now owns 866,076 shares of the company's stock worth $15,841,000 after acquiring an additional 110,646 shares during the period. Institutional investors own 92.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on TGNA shares. JPMorgan Chase & Co. lowered their price objective on 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 lowered their price objective on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Guggenheim lowered their price objective on TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Finally, Benchmark lowered their price objective on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

TEGNA Trading Down 0.2%

Shares of TGNA stock opened at $17.00 on Tuesday. The stock's fifty day moving average price is $16.81 and its two-hundred day moving average price is $17.23. The company has a market cap of $2.73 billion, a PE ratio of 5.99 and a beta of 0.30. TEGNA Inc. has a fifty-two week low of $13.37 and a fifty-two week high of $19.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.40 and a current ratio of 1.40.

TEGNA (NYSE:TGNA - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $677.24 million. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. The company's revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. Equities analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, June 6th. TEGNA's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.