Northern Trust Corp Has $52.41 Million Stake in TEGNA Inc. (NYSE:TGNA)

Northern Trust Corp grew its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,865,335 shares of the company's stock after purchasing an additional 219,706 shares during the period. Northern Trust Corp owned about 1.78% of TEGNA worth $52,407,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TGNA. Jones Financial Companies Lllp acquired a new position in shares of TEGNA in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC increased its holdings in TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after buying an additional 832 shares during the last quarter. 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 worth $31,000 after buying an additional 749 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in TEGNA in the fourth quarter worth approximately $32,000. Finally, GAMMA Investing LLC increased its holdings in TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after buying an additional 757 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on TGNA. StockNews.com downgraded TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Benchmark lowered their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Guggenheim lowered their price target on TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company lowered their price target on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.00.

TEGNA Trading Up 1.5%

TGNA stock traded up $0.26 during midday trading on Monday, reaching $17.35. The stock had a trading volume of 488,262 shares, compared to its average volume of 1,979,614. The business has a fifty day simple moving average of $17.05 and a two-hundred day simple moving average of $17.73. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 6.14 and a beta of 0.31. 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 quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share 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 analyst estimates of $677.24 million. During the same quarter last year, the firm earned $0.45 EPS. TEGNA's quarterly revenue was down 4.8% compared to the same quarter last year. As a group, research analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA's payout ratio is 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.