Reliance Trust Co. of Delaware maintained its position in TEGNA Inc. (NYSE:TGNA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,400 shares of the company’s stock at the end of the second quarter. Reliance Trust Co. of Delaware’s holdings in TEGNA were worth $395,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in TEGNA by 3,145.3% in the first quarter. BlackRock Inc. now owns 13,306,717 shares of the company’s stock worth $340,917,000 after buying an additional 12,896,690 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in TEGNA during the second quarter worth $24,986,000. Renaissance Technologies LLC raised its stake in TEGNA by 1,523.6% in the first quarter. Renaissance Technologies LLC now owns 1,813,600 shares of the company’s stock worth $46,464,000 after buying an additional 1,701,900 shares during the period. Contrarius Investment Management Ltd acquired a new stake in TEGNA during the first quarter worth $39,690,000. Finally, AQR Capital Management LLC raised its stake in TEGNA by 43.4% in the first quarter. AQR Capital Management LLC now owns 3,683,617 shares of the company’s stock worth $94,374,000 after buying an additional 1,115,202 shares during the period. Hedge funds and other institutional investors own 88.32% of the company’s stock.
TEGNA Inc. (NYSE:TGNA) traded up 0.85% during mid-day trading on Friday, hitting $13.02. 1,676,583 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $14.36 and its 200-day moving average price is $20.96. The stock has a market cap of $2.80 billion, a PE ratio of 15.92 and a beta of 1.75. TEGNA Inc. has a one year low of $12.78 and a one year high of $26.65.
TEGNA (NYSE:TGNA) last released its earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $489.36 million for the quarter, compared to analyst estimates of $486.29 million. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, analysts forecast that TEGNA Inc. will post $1.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 7th. TEGNA’s payout ratio is currently 16.97%.
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A number of analysts recently weighed in on the stock. BidaskClub lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Noble Financial reaffirmed a “buy” rating on shares of TEGNA in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and set a $14.00 price target (down from $16.00) on shares of TEGNA in a research report on Wednesday, August 2nd. FBR & Co decreased their price target on shares of TEGNA from $24.00 to $16.00 and set a “mkt perform” rating for the company in a research report on Friday, July 28th. Finally, ValuEngine raised shares of TEGNA from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. TEGNA presently has an average rating of “Hold” and a consensus 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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