Oppenheimer Asset Management Inc. increased its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,256 shares of the company’s stock after acquiring an additional 1,067 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in TEGNA were worth $609,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in TEGNA by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 21,056,913 shares of the company’s stock valued at $539,479,000 after buying an additional 231,675 shares in the last quarter. BlackRock Inc. grew its holdings in TEGNA by 3,145.3% in the 1st quarter. BlackRock Inc. now owns 13,306,717 shares of the company’s stock valued at $340,917,000 after buying an additional 12,896,690 shares in the last quarter. Victory Capital Management Inc. grew its holdings in TEGNA by 90.5% in the 2nd quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock valued at $185,828,000 after buying an additional 6,127,293 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in TEGNA by 31.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 11,120,237 shares of the company’s stock valued at $160,243,000 after buying an additional 2,676,789 shares in the last quarter. Finally, State Street Corp grew its holdings in TEGNA by 1.0% in the 1st quarter. State Street Corp now owns 9,731,739 shares of the company’s stock valued at $249,313,000 after buying an additional 92,596 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on the company. BidaskClub lowered TEGNA from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Zacks Investment Research downgraded TEGNA from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. ValuEngine downgraded TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Benchmark Co. reiterated a “buy” rating and set a $20.00 target price on shares of TEGNA in a research report on Friday, June 16th. Finally, Noble Financial reiterated a “buy” rating on shares of TEGNA in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. TEGNA currently has an average rating of “Hold” and an average price target of $19.79.
Shares of TEGNA Inc. (NYSE:TGNA) opened at 12.05 on Friday. TEGNA Inc. has a 12 month low of $11.46 and a 12 month high of $17.06. The company’s 50 day moving average price is $13.02 and its 200 day moving average price is $14.90. The company has a market capitalization of $2.59 billion, a P/E ratio of 14.73 and a beta of 1.76.
TEGNA (NYSE:TGNA) last posted its earnings results on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The business had revenue of $489.36 million during the quarter, compared to analysts’ expectations of $486.29 million. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts expect that TEGNA Inc. will post $1.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, September 7th. TEGNA’s payout ratio is 16.97%.
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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