Janney Montgomery Scott LLC grew its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 1,454.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,765 shares of the company's stock after buying an additional 168,201 shares during the period. Janney Montgomery Scott LLC owned approximately 0.11% of TEGNA worth $3,275,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in TEGNA by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock valued at $34,260,000 after acquiring an additional 93,894 shares during the period. Whitebox Advisors LLC lifted its holdings in shares of TEGNA by 459.6% in the 4th quarter. Whitebox Advisors LLC now owns 142,703 shares of the company's stock worth $2,610,000 after purchasing an additional 117,203 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in TEGNA by 13,258.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 227,100 shares of the company's stock valued at $4,154,000 after purchasing an additional 225,400 shares during the period. 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 valued at $15,841,000 after purchasing an additional 110,646 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in TEGNA during the fourth quarter worth $2,375,000. Institutional investors and hedge funds own 92.19% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on TGNA. Guggenheim lifted their price objective on shares of TEGNA from $20.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Wall Street Zen downgraded TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Benchmark dropped their target price on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Wells Fargo & Company cut 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, TEGNA has an average rating of "Moderate Buy" and a consensus price target of $20.25.
Get Our Latest Analysis on TGNA
TEGNA Stock Down 2.1%
Shares of TGNA traded down $0.36 during trading hours on Friday, reaching $16.75. 2,681,174 shares of the stock traded hands, compared to its average volume of 1,855,385. TEGNA Inc. has a 52 week low of $13.37 and a 52 week high of $19.62. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 5.90 and a beta of 0.30. The stock has a fifty day simple moving average of $16.66 and a 200 day simple moving average of $17.44. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.83.
TEGNA (NYSE:TGNA - Get Free Report) last posted 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 net margin of 15.29% and a return on equity of 17.13%. The firm had revenue of $680.05 million for the quarter, compared to analysts' expectations of $677.24 million. During the same quarter last year, the firm earned $0.45 EPS. The company's quarterly revenue was down 4.8% compared to the same quarter last year. On average, equities analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.
TEGNA Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.50 dividend on an annualized basis and a yield of 2.98%. TEGNA's dividend payout ratio (DPR) is currently 17.61%.
About TEGNA
(
Free Report)
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.
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