Segall Bryant & Hamill LLC trimmed its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 11.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,414 shares of the company's stock after selling 36,303 shares during the period. Segall Bryant & Hamill LLC owned 0.17% of TEGNA worth $5,000,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of TGNA. Jones Financial Companies Lllp purchased a new stake in TEGNA in the 4th quarter valued at about $27,000. Neo Ivy Capital Management purchased a new stake in TEGNA during the 4th quarter worth approximately $28,000. Tower Research Capital LLC TRC boosted its holdings in shares of TEGNA by 80.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of TEGNA in the 4th quarter valued at $32,000. Finally, GAMMA Investing LLC boosted its holdings in TEGNA by 53.3% during the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after buying an additional 1,088 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.
TEGNA Price Performance
TEGNA stock opened at $17.01 on Friday. The firm has a market capitalization of $2.73 billion, a PE ratio of 5.99 and a beta of 0.30. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The firm's 50-day simple moving average is $16.88 and its 200 day simple moving average is $17.32. TEGNA Inc. has a 52 week low of $13.37 and a 52 week high of $19.62.
TEGNA (NYSE:TGNA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $677.24 million. During the same quarter in the prior year, the company earned $0.45 EPS. The company's revenue was down 4.8% on a year-over-year basis. On average, equities research analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.
TEGNA Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, June 6th. TEGNA's dividend payout ratio (DPR) is presently 17.61%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on TGNA shares. Benchmark decreased their price objective on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company dropped their price target on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Guggenheim decreased their price target on shares of TEGNA from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. cut their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, TEGNA presently has an average rating of "Moderate Buy" and an average price target of $20.00.
View Our Latest Report on TGNA
TEGNA Profile
(
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.
Further Reading
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