Teachers Advisors LLC Acquires 135,990 Shares of TEGNA Inc. (NYSE:TGNA)

Teachers Advisors LLC raised its stake in TEGNA Inc. (NYSE:TGNA) by 50.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 405,634 shares of the company’s stock after buying an additional 135,990 shares during the period. Teachers Advisors LLC owned approximately 0.19% of TEGNA worth $10,392,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of TEGNA during the first quarter valued at $131,000. ARS Investment Partners LLC acquired a new position in shares of TEGNA during the first quarter valued at $135,000. Peak Asset Management LLC acquired a new position in shares of TEGNA during the first quarter valued at $205,000. Clifford Swan Investment Counsel LLC acquired a new position in shares of TEGNA during the first quarter valued at $207,000. Finally, Greatmark Investment Partners Inc. acquired a new position in shares of TEGNA during the first quarter valued at $213,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.

Shares of TEGNA Inc. (NYSE TGNA) opened at 15.06 on Tuesday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 8.04 and a beta of 1.74. TEGNA Inc. has a 12-month low of $14.03 and a 12-month high of $26.65. The company has a 50-day moving average of $14.57 and a 200 day moving average of $21.71.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.33. The company had revenue of $778.50 million during the quarter, compared to the consensus estimate of $799.54 million. TEGNA had a return on equity of 19.16% and a net margin of 12.25%. TEGNA’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. Analysts predict that TEGNA Inc. will post $1.22 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, June 7th. TEGNA’s dividend payout ratio (DPR) is presently 14.97%.

TGNA has been the topic of several recent research reports. TheStreet upgraded shares of TEGNA from a “c” rating to a “b” rating in a research note on Thursday, March 30th. Noble Financial reiterated a “buy” rating on shares of TEGNA in a research note on Thursday, July 13th. Benchmark Co. reiterated a “buy” rating and issued a $20.00 price objective on shares of TEGNA in a research note on Friday, June 16th. ValuEngine cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 price objective on shares of TEGNA in a research note on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $23.31.

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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