Janney Montgomery Scott LLC raised its position in TEGNA Inc. (NYSE:TGNA) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 93,483 shares of the company’s stock after buying an additional 1,466 shares during the period. Janney Montgomery Scott LLC’s holdings in TEGNA were worth $1,347,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. OppenheimerFunds Inc. boosted its stake in shares of TEGNA by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 15,799 shares of the company’s stock worth $405,000 after buying an additional 67 shares in the last quarter. Conning Inc. boosted its stake in shares of TEGNA by 0.7% in the first quarter. Conning Inc. now owns 9,970 shares of the company’s stock worth $255,000 after buying an additional 70 shares in the last quarter. Advantus Capital Management Inc boosted its stake in shares of TEGNA by 0.4% in the first quarter. Advantus Capital Management Inc now owns 21,442 shares of the company’s stock worth $549,000 after buying an additional 95 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of TEGNA by 0.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 28,193 shares of the company’s stock worth $722,000 after buying an additional 153 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in shares of TEGNA by 1.2% in the first quarter. Mason Street Advisors LLC now owns 29,672 shares of the company’s stock worth $760,000 after buying an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
Shares of TEGNA Inc. (NYSE TGNA) opened at 12.91 on Friday. The company has a market capitalization of $2.78 billion, a PE ratio of 15.78 and a beta of 1.75. The firm’s 50-day moving average is $14.40 and its 200-day moving average is $21.02. TEGNA Inc. has a 12-month low of $12.90 and a 12-month high of $26.65.
TEGNA (NYSE:TGNA) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $489.36 million for the quarter, compared to analyst estimates of $486.29 million. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. TEGNA’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. On average, equities research analysts anticipate that TEGNA Inc. will post $1.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.28 annualized dividend and a dividend yield of 2.17%. TEGNA’s dividend payout ratio is presently 16.97%.
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A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of TEGNA from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Noble Financial reiterated a “buy” rating on shares of TEGNA in a report on Thursday, August 3rd. BidaskClub cut shares of TEGNA from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $14.00 price objective (down from $16.00) on shares of TEGNA in a report on Wednesday, August 2nd. Finally, FBR & Co decreased their price objective on shares of TEGNA from $24.00 to $16.00 and set a “mkt perform” rating for the company in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. TEGNA currently has a consensus rating of “Hold” and an average target price of $21.44.
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.
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