Thrivent Financial for Lutherans cut its position in TEGNA Inc. (NYSE:TGNA) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,971 shares of the company’s stock after selling 1,396 shares during the quarter. Thrivent Financial for Lutherans’ holdings in TEGNA were worth $693,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of TGNA. State Street Corp boosted its holdings in shares of TEGNA by 0.7% in the 3rd quarter. State Street Corp now owns 10,077,579 shares of the company’s stock valued at $119,086,000 after purchasing an additional 67,292 shares in the last quarter. New South Capital Management Inc. lifted its position in shares of TEGNA by 1.3% during the 2nd quarter. New South Capital Management Inc. now owns 8,793,314 shares of the company’s stock worth $97,958,000 after buying an additional 114,808 shares during the last quarter. LSV Asset Management boosted its stake in TEGNA by 13.8% in the second quarter. LSV Asset Management now owns 8,338,483 shares of the company’s stock valued at $92,890,000 after buying an additional 1,008,595 shares in the last quarter. Macquarie Group Ltd. grew its position in TEGNA by 57,351.9% in the second quarter. Macquarie Group Ltd. now owns 4,021,631 shares of the company’s stock valued at $44,801,000 after acquiring an additional 4,014,631 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in TEGNA by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 3,923,906 shares of the company’s stock worth $43,714,000 after acquiring an additional 86,603 shares in the last quarter. 92.38% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of TEGNA from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a report on Tuesday, October 13th. ValuEngine cut shares of TEGNA from a “sell” rating to a “strong sell” rating in a research note on Friday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.86.
Shares of TGNA opened at $14.65 on Friday. The firm has a market cap of $3.21 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. TEGNA Inc. has a 52-week low of $9.61 and a 52-week high of $18.31. The business’s 50 day moving average price is $13.77 and its two-hundred day moving average price is $12.29. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.25 and a current ratio of 2.25.
TEGNA (NYSE:TGNA) last released its earnings results on Monday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). The company had revenue of $738.40 million for the quarter, compared to analyst estimates of $737.97 million. TEGNA had a net margin of 9.51% and a return on equity of 17.43%. The firm’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. Research analysts predict that TEGNA Inc. will post 1.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 11th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $0.28 annualized dividend and a yield of 1.91%. TEGNA’s dividend payout ratio (DPR) is 20.29%.
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.
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