Jefferies Financial Group Inc. Buys Shares of 30,371 TEGNA Inc. (NYSE:TGNA)

Jefferies Financial Group Inc. acquired 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 and Exchange Commission. The institutional investor acquired 30,371 shares of the company's stock, valued at approximately $553,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of TEGNA by 2.5% during the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of TEGNA by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,376 shares of the company's stock worth $341,000 after purchasing an additional 6,433 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of TEGNA by 7.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 563,207 shares of the company's stock worth $10,262,000 after purchasing an additional 40,987 shares in the last quarter. Whitebox Advisors LLC raised its stake in shares of TEGNA by 459.6% during 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. Finally, Janney Montgomery Scott LLC raised its stake in shares of TEGNA by 1,454.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 179,765 shares of the company's stock worth $3,275,000 after purchasing an additional 168,201 shares in the last quarter. Institutional investors own 92.19% of the company's stock.

TEGNA Stock Performance

Shares of NYSE TGNA opened at $16.38 on Thursday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 5.77 and a beta of 0.28. TEGNA Inc. has a one year low of $13.37 and a one year high of $19.62. 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 stock's fifty day moving average price is $16.77 and its two-hundred day moving average price is $17.16.

TEGNA (NYSE:TGNA - Get Free Report) last released its 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. The company had revenue of $680.05 million for the quarter, compared to analyst estimates of $677.24 million. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. TEGNA's quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. On average, equities analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, June 6th. TEGNA's dividend payout ratio is 17.61%.

Analyst Ratings Changes

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

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.

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