BlackRock Advisors LLC increased its position in shares of Tegna Inc. (NYSE:TGNA) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 223,802 shares of the company’s stock after buying an additional 1,359 shares during the period. BlackRock Advisors LLC owned 0.10% of Tegna worth $5,186,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hussman Strategic Advisors Inc. acquired a new stake in shares of Tegna during the second quarter worth $151,000. Advance Capital I Inc. acquired a new stake in shares of Tegna during the second quarter worth $204,000. Seven Eight Capital LLC raised its stake in shares of Tegna by 58,666.7% in the first quarter. Seven Eight Capital LLC now owns 8,815 shares of the company’s stock worth $207,000 after buying an additional 8,800 shares during the period. Sentry Investment Management LLC raised its stake in shares of Tegna by 84.6% in the first quarter. Sentry Investment Management LLC now owns 8,916 shares of the company’s stock worth $209,000 after buying an additional 4,086 shares during the period. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Tegna during the first quarter worth $230,000. 88.00% of the stock is owned by institutional investors.
Tegna Inc. (NYSE:TGNA) opened at 19.94 on Monday. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 10.77 and a beta of 1.70. The stock’s 50 day moving average price is $21.08 and its 200 day moving average price is $22.33. Tegna Inc. has a 52-week low of $19.71 and a 52-week high of $28.95.
Tegna (NYSE:TGNA) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Tegna had a return on equity of 17.02% and a net margin of 13.69%. The business earned $811.79 million during the quarter, compared to the consensus estimate of $814.56 million. During the same period in the prior year, the company earned $0.30 EPS. Tegna’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that Tegna Inc. will post $2.33 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.56 annualized dividend and a dividend yield of 2.81%. Tegna’s dividend payout ratio is currently 28.72%.
A number of analysts have recently weighed in on the company. Wells Fargo & Co. restated a “hold” rating on shares of Tegna in a research note on Monday, September 26th. FBR & Co restated a “hold” rating and issued a $24.00 target price on shares of Tegna in a research note on Thursday, September 8th. TheStreet lowered Tegna from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Benchmark Co. assumed coverage on Tegna in a research note on Friday, August 19th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Argus restated a “buy” rating and issued a $33.00 target price on shares of Tegna in a research note on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Tegna currently has an average rating of “Hold” and an average price target of $26.88.
Tegna Company Profile
TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.
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