Tocqueville Asset Management L.P. decreased its position in shares of TEGNA Inc. (NYSE:TGNA) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,214,575 shares of the company’s stock after selling 200 shares during the period. Tocqueville Asset Management L.P. owned 0.57% of TEGNA worth $17,502,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in TEGNA by 1.1% in the first quarter. Vanguard Group Inc. now owns 21,056,913 shares of the company’s stock worth $539,479,000 after buying an additional 231,675 shares in the last quarter. 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 in the last quarter. Diamond Hill Capital Management Inc. raised its stake in TEGNA by 31.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 11,120,237 shares of the company’s stock worth $160,243,000 after buying an additional 2,676,789 shares in the last quarter. State Street Corp raised its stake in TEGNA by 1.0% in the first quarter. State Street Corp now owns 9,731,739 shares of the company’s stock worth $249,313,000 after buying an additional 92,596 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in TEGNA by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,934,141 shares of the company’s stock worth $126,416,000 after buying an additional 158,454 shares in the last quarter. Institutional investors and hedge funds own 90.09% of the company’s stock.
TEGNA Inc. (NYSE TGNA) opened at 12.40 on Tuesday. TEGNA Inc. has a 12-month low of $12.31 and a 12-month high of $26.65. The company has a 50 day moving average of $14.05 and a 200-day moving average of $20.50. The stock has a market cap of $2.67 billion, a P/E ratio of 15.16 and a beta of 1.75.
TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The company had revenue of $489.36 million for the quarter, compared to the consensus estimate of $486.29 million. During the same quarter in the prior year, the company earned $0.50 EPS. TEGNA’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that TEGNA Inc. will post $1.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.07 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.28 annualized dividend and a yield of 2.26%. TEGNA’s dividend payout ratio (DPR) is presently 16.97%.
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A number of brokerages have recently issued reports on TGNA. TheStreet downgraded shares of TEGNA from a “b” rating to a “c+” rating in a report on Thursday, July 13th. FBR & Co downgraded shares of TEGNA from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $29.00 to $24.00 in a report on Wednesday, May 10th. Noble Financial reaffirmed a “buy” rating on shares of TEGNA in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $16.00 price target on shares of TEGNA in a report on Thursday, June 1st. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $13.00 price target (down previously from $20.00) on shares of TEGNA in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.79.
About TEGNA
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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