BlackRock Inc. increased its position in shares of Tegna Inc (NYSE:TGNA) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,786,042 shares of the company’s stock after buying an additional 242,376 shares during the period. BlackRock Inc. owned approximately 0.08% of Tegna worth $250,427,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cerebellum GP LLC bought a new position in Tegna during the fourth quarter worth $104,000. Point72 Asset Management L.P. bought a new position in Tegna during the third quarter worth $110,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tegna by 523.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,337 shares of the company’s stock worth $138,000 after buying an additional 8,678 shares during the last quarter. Conning Inc. bought a new position in Tegna during the fourth quarter worth $147,000. Finally, Outfitter Advisors LTD. bought a new position in Tegna during the fourth quarter worth $159,000. 99.91% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on TGNA. Noble Financial reaffirmed a “buy” rating on shares of Tegna in a research note on Tuesday, November 14th. Barclays reaffirmed an “underweight” rating on shares of Tegna in a research note on Monday, March 5th. Zacks Investment Research raised shares of Tegna from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, March 6th. Finally, ValuEngine downgraded shares of Tegna from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Tegna currently has an average rating of “Hold” and a consensus target price of $15.63.
Shares of Tegna Inc (NYSE TGNA) opened at $12.92 on Tuesday. Tegna Inc has a 52 week low of $11.59 and a 52 week high of $16.92. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 3.02. The firm has a market cap of $2,780.00, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 6.12 and a beta of 1.55.
Tegna (NYSE:TGNA) last posted its quarterly earnings results on Thursday, March 1st. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. Tegna had a net margin of 20.74% and a return on equity of 19.56%. The firm had revenue of $480.45 million during the quarter, compared to the consensus estimate of $491.79 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. equities research analysts predict that Tegna Inc will post 1.71 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 8th. Tegna’s dividend payout ratio is currently 21.37%.
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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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