Bessemer Group Inc. acquired a new stake in shares of TEGNA Inc. (NYSE:TGNA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 93,700 shares of the company’s stock, valued at approximately $1,019,000.
Several other institutional investors and hedge funds also recently made changes to their positions in TGNA. Northern Trust Corp grew its holdings in shares of TEGNA by 24.4% during the fourth quarter. Northern Trust Corp now owns 5,353,589 shares of the company’s stock valued at $58,194,000 after buying an additional 1,050,702 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of TEGNA by 35.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,963,036 shares of the company’s stock valued at $47,398,000 after buying an additional 1,034,575 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of TEGNA by 987.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 927,070 shares of the company’s stock valued at $85,000 after buying an additional 841,783 shares during the last quarter. BlackRock Inc. grew its holdings in shares of TEGNA by 2.6% during the fourth quarter. BlackRock Inc. now owns 25,426,490 shares of the company’s stock valued at $276,386,000 after buying an additional 653,935 shares during the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of TEGNA by 2.7% during the third quarter. Vanguard Group Inc now owns 21,012,929 shares of the company’s stock valued at $251,314,000 after buying an additional 549,310 shares during the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.
In other TEGNA news, Director Neal Shapiro sold 27,613 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $14.72, for a total value of $406,463.36. Following the sale, the director now directly owns 17,478 shares of the company’s stock, valued at $257,276.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.44% of the stock is currently owned by corporate insiders.
TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Friday, March 1st. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. TEGNA had a net margin of 18.18% and a return on equity of 33.72%. The company had revenue of $642.10 million for the quarter, compared to analyst estimates of $628.71 million. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was up 31.0% on a year-over-year basis. Sell-side analysts anticipate that TEGNA Inc. will post 1.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, March 7th. TEGNA’s payout ratio is 15.30%.
TGNA has been the topic of a number of research analyst reports. Gabelli initiated coverage on shares of TEGNA in a report on Tuesday, November 27th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of TEGNA from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Monday, January 7th. Noble Financial reissued a “buy” rating and set a $14.50 price objective on shares of TEGNA in a report on Thursday, February 28th. Wolfe Research initiated coverage on shares of TEGNA in a report on Friday, December 7th. They set a “market perform” rating on the stock. Finally, TheStreet raised shares of TEGNA from a “c+” rating to a “b-” rating in a report on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.32.
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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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