KBC Group NV Buys 6,122 Shares of TEGNA Inc. (TGNA)

KBC Group NV increased its position in TEGNA Inc. (NYSE:TGNA) by 41.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,780 shares of the company’s stock after buying an additional 6,122 shares during the period. KBC Group NV’s holdings in TEGNA were worth $532,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in TEGNA during the fourth quarter worth approximately $49,159,000. Contrarius Investment Management Ltd acquired a new stake in TEGNA during the first quarter worth approximately $39,690,000. FMR LLC increased its stake in TEGNA by 75.0% in the fourth quarter. FMR LLC now owns 1,700,168 shares of the company’s stock worth $36,366,000 after buying an additional 728,426 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in TEGNA by 18.9% in the first quarter. Pinnacle Associates Ltd. now owns 3,972,309 shares of the company’s stock worth $101,771,000 after buying an additional 630,259 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in TEGNA during the fourth quarter worth approximately $8,060,000. Institutional investors own 86.60% of the company’s stock.

Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

TEGNA Inc. (TGNA) opened at 15.26 on Tuesday. The stock has a market capitalization of $3.28 billion, a P/E ratio of 8.15 and a beta of 1.79. TEGNA Inc. has a 12 month low of $14.03 and a 12 month high of $26.65. The company’s 50-day moving average is $20.41 and its 200-day moving average is $23.06.

TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $778.50 million during the quarter, compared to analysts’ expectations of $799.54 million. TEGNA had a net margin of 12.25% and a return on equity of 19.16%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. Equities analysts anticipate that TEGNA Inc. will post $1.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.83%. TEGNA’s dividend payout ratio is presently 14.97%.

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A number of equities research analysts have recently issued reports on the stock. Barrington Research restated an “outperform” rating and set a $36.00 price target (up previously from $28.00) on shares of TEGNA in a report on Tuesday, March 7th. FBR & Co restated a “buy” rating and set a $30.00 price target on shares of TEGNA in a report on Wednesday, March 8th. Jefferies Group LLC restated a “hold” rating and set a $26.00 price target on shares of TEGNA in a report on Tuesday, February 28th. Benchmark Co. boosted their price target on shares of TEGNA from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Finally, TheStreet upgraded shares of TEGNA from a “c” rating to a “b” rating in a report on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. TEGNA currently has a consensus rating of “Hold” and an average target price of $23.72.

About TEGNA

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TGNA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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