Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in TEGNA Inc. (NYSE:TGNA)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 434,943 shares of the company's stock, valued at approximately $7,955,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.27% of TEGNA as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TGNA. Northern Trust Corp increased its holdings in shares of TEGNA by 8.3% in the 4th quarter. Northern Trust Corp now owns 2,865,335 shares of the company's stock worth $52,407,000 after acquiring an additional 219,706 shares during the period. Charles Schwab Investment Management Inc. grew its position in TEGNA by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock worth $34,260,000 after purchasing an additional 93,894 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of TEGNA by 7.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,233,329 shares of the company's stock valued at $22,558,000 after purchasing an additional 85,113 shares during the period. Principal Financial Group Inc. boosted its position in shares of TEGNA by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 911,617 shares of the company's stock worth $16,673,000 after buying an additional 20,129 shares during the period. Finally, Invesco Ltd. grew its holdings in TEGNA by 14.6% in the 4th quarter. Invesco Ltd. now owns 866,076 shares of the company's stock worth $15,841,000 after buying an additional 110,646 shares in the last quarter. Institutional investors own 92.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TGNA. Guggenheim lifted their target price on TEGNA from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Benchmark lowered their target price on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price target on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. lowered their price objective 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. Finally, Wall Street Zen downgraded TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, TEGNA has a consensus rating of "Moderate Buy" and an average target price of $20.25.

TEGNA Price Performance

NYSE TGNA traded down $0.55 on Wednesday, reaching $16.11. The company's stock had a trading volume of 1,528,748 shares, compared to its average volume of 1,948,580. The firm's 50 day moving average is $16.63 and its two-hundred day moving average is $17.67. The stock has a market cap of $2.59 billion, a PE ratio of 5.69 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 Inc. has a twelve month low of $12.35 and a twelve month high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. The business had revenue of $680.05 million during the quarter, compared to analyst estimates of $677.24 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business's quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is 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.