PharVision Advisers LLC Takes $332,000 Position in TEGNA Inc. (NYSE:TGNA)

PharVision Advisers LLC purchased a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,160 shares of the company's stock, valued at approximately $332,000.

Several other hedge funds have also recently modified their holdings of TGNA. Tower Research Capital LLC TRC increased its holdings in 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 buying an additional 749 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after acquiring an additional 832 shares during the period. Pictet Asset Management Holding SA increased its stake in TEGNA by 4.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company's stock valued at $424,000 after purchasing an additional 910 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in TEGNA by 34.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock worth $80,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in TEGNA by 15.0% during the fourth quarter. Bessemer Group Inc. now owns 9,888 shares of the company's stock worth $181,000 after purchasing an additional 1,288 shares in the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Trading Up 1.2%

TEGNA stock traded up $0.21 during trading on Tuesday, hitting $16.85. The company's stock had a trading volume of 114,827 shares, compared to its average volume of 1,959,586. The stock's fifty day moving average is $16.90 and its 200 day moving average is $17.74. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 5.95 and a beta of 0.31. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60.

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. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business had revenue of $680.05 million for the quarter, compared to analysts' expectations of $677.24 million. During the same period last year, the company earned $0.45 earnings per share. The company's quarterly revenue was down 4.8% on a year-over-year basis. As a group, equities research analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, June 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.97%. TEGNA's payout ratio is 17.61%.

Wall Street Analysts Forecast Growth

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

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.