Monarch Capital Management Inc. maintained its position in Tegna Inc (NYSE:TGNA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,415 shares of the company’s stock at the end of the first quarter. Monarch Capital Management Inc.’s holdings in Tegna were worth $369,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Tegna by 125.7% in the third quarter. Bank of Montreal Can now owns 187,673 shares of the company’s stock worth $4,103,000 after buying an additional 104,529 shares during the last quarter. Orinda Asset Management LLC increased its position in shares of Tegna by 60.0% in the third quarter. Orinda Asset Management LLC now owns 11,806 shares of the company’s stock worth $258,000 after buying an additional 4,427 shares during the last quarter. Conning Inc. increased its position in shares of Tegna by 1.4% in the third quarter. Conning Inc. now owns 10,118 shares of the company’s stock worth $221,000 after buying an additional 140 shares during the last quarter. Commonwealth Equity Services Inc increased its position in shares of Tegna by 106.6% in the third quarter. Commonwealth Equity Services Inc now owns 45,902 shares of the company’s stock worth $1,003,000 after buying an additional 23,687 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Tegna during the third quarter worth approximately $5,465,000. Institutional investors and hedge funds own 85.01% of the company’s stock.
Tegna Inc (NYSE:TGNA) traded down 1.07% during trading on Friday, reaching $25.83. 1,319,800 shares of the company’s stock traded hands. The stock has a market capitalization of $5.55 billion, a P/E ratio of 13.01 and a beta of 1.69. The stock has a 50-day moving average price of $25.73 and a 200 day moving average price of $22.91. Tegna Inc has a 1-year low of $17.91 and a 1-year high of $26.65.
Tegna (NYSE:TGNA) last issued its quarterly earnings data on Monday, February 27th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. The firm had revenue of $887.42 million for the quarter, compared to the consensus estimate of $887.46 million. Tegna had a net margin of 14.33% and a return on equity of 19.14%. Tegna’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. Equities research analysts expect that Tegna Inc will post $1.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 10th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $0.56 annualized dividend and a yield of 2.17%. Tegna’s dividend payout ratio is presently 26.67%.
A number of equities analysts recently commented on TGNA shares. Benchmark Co. boosted their target price on shares of Tegna from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. Barrington Research reiterated an “outperform” rating and set a $36.00 target price (up previously from $28.00) on shares of Tegna in a research note on Tuesday, March 7th. Jefferies Group LLC reiterated a “hold” rating and set a $26.00 target price on shares of Tegna in a research note on Tuesday, February 28th. FBR & Co reiterated an “outperform” rating and set a $30.00 target price (up previously from $28.00) on shares of Tegna in a research note on Tuesday, February 28th. Finally, TheStreet upgraded shares of Tegna from a “c” rating to a “b” rating in a research note on Thursday, March 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $27.78.
In related news, Director Howard D. Elias sold 4,883 shares of Tegna stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $26.18, for a total value of $127,836.94. Following the sale, the director now directly owns 14,883 shares in the company, valued at approximately $389,636.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John A. Williams sold 3,340 shares of Tegna stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $25.83, for a total transaction of $86,272.20. Following the completion of the sale, the insider now owns 95,423 shares in the company, valued at $2,464,776.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,421 shares of company stock worth $1,148,472. 0.68% of the stock is currently owned by insiders.
Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
Want to see what other hedge funds are holding TGNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tegna Inc (NYSE:TGNA).
Receive News & Ratings for Tegna Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tegna Inc and related companies with MarketBeat.com's FREE daily email newsletter.