TEGNA Inc. (NYSE:TGNA) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 122.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,723 shares of the company's stock after purchasing an additional 39,451 shares during the period. Hsbc Holdings PLC's holdings in TEGNA were worth $1,318,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. State of Tennessee Department of Treasury purchased a new stake in TEGNA during the fourth quarter valued at $1,250,000. Tower Research Capital LLC TRC lifted its holdings in TEGNA by 80.2% during the 4th 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. MetLife Investment Management LLC raised its stake in shares of TEGNA by 2.7% during the fourth quarter. MetLife Investment Management LLC now owns 99,017 shares of the company's stock valued at $1,811,000 after acquiring an additional 2,562 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of TEGNA by 77.5% in the 4th quarter. Bridgewater Associates LP now owns 488,006 shares of the company's stock worth $8,926,000 after buying an additional 213,097 shares during the period. Finally, XTX Topco Ltd purchased a new position in TEGNA during the 4th quarter valued at about $321,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TGNA. StockNews.com cut shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Guggenheim decreased their target price on shares of TEGNA from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, April 11th. 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. Finally, Wells Fargo & Company dropped their price objective on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.00.

TEGNA Price Performance

Shares of TGNA traded up $0.86 during mid-day trading on Thursday, hitting $17.53. 286,848 shares of the company were exchanged, compared to its average volume of 1,996,354. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 6.19 and a beta of 0.31. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The company has a 50 day moving average of $17.06 and a 200-day moving average of $17.70. 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 issued its quarterly 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 return on equity of 14.49% and a net margin of 16.75%. TEGNA's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. Analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a dividend of $0.125 per share. The ex-dividend date was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.85%. TEGNA's payout ratio is presently 14.12%.

About TEGNA

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.