LGT Capital Partners LTD. Reduces Stake in Tegna Inc (TGNA)
LGT Capital Partners LTD. cut its position in Tegna Inc (NYSE:TGNA) by 36.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 285,000 shares of the company’s stock after selling 165,000 shares during the period. LGT Capital Partners LTD. owned approximately 0.13% of Tegna worth $7,302,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Tegna by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,291 shares of the company’s stock worth $263,000 after buying an additional 50 shares during the period. Norinchukin Bank The increased its stake in Tegna by 0.5% in the third quarter. Norinchukin Bank The now owns 11,473 shares of the company’s stock worth $251,000 after buying an additional 61 shares in the last quarter. Conning Inc. increased its stake in Tegna by 1.4% in the third quarter. Conning Inc. now owns 10,118 shares of the company’s stock worth $221,000 after buying an additional 140 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Tegna by 1.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,152 shares of the company’s stock worth $345,000 after buying an additional 186 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Tegna by 7.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,552 shares of the company’s stock worth $183,000 after buying an additional 563 shares in the last quarter. 85.01% of the stock is owned by hedge funds and other institutional investors.
Tegna Inc (NYSE:TGNA) traded up 1.04% during midday trading on Thursday, hitting $26.11. The stock had a trading volume of 1,805,183 shares. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 13.15 and a beta of 1.69. The firm has a 50 day moving average of $25.74 and a 200 day moving average of $22.89. Tegna Inc has a 52 week low of $17.91 and a 52 week high of $26.65.
Tegna (NYSE:TGNA) last posted its quarterly earnings data on Monday, February 27th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.66 by $0.08. Tegna had a return on equity of 19.14% and a net margin of 14.33%. The firm had revenue of $887.42 million for the quarter, compared to the consensus estimate of $887.46 million. During the same quarter last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts predict that Tegna Inc will post $1.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 10th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Wednesday, March 8th. Tegna’s dividend payout ratio (DPR) is currently 26.67%.
TGNA has been the subject of several recent analyst reports. TheStreet raised shares of Tegna from a “c” rating to a “b” rating in a research report on Thursday, March 30th. Benchmark Co. lifted their price target on shares of Tegna from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. FBR & Co restated a “buy” rating and set a $30.00 price objective on shares of Tegna in a research note on Wednesday, March 8th. Jefferies Group LLC restated a “hold” rating and set a $26.00 price objective on shares of Tegna in a research note on Monday, April 3rd. Finally, Barrington Research restated an “outperform” rating and set a $36.00 price objective (up from $28.00) on shares of Tegna in a research note on Tuesday, March 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $27.78.
In related news, Director Howard D. Elias sold 4,883 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $26.18, for a total transaction of $127,836.94. Following the completion of the sale, the director now owns 14,883 shares in the company, valued at $389,636.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William A. Behan sold 24,644 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $25.87, for a total value of $637,540.28. Following the sale, the senior vice president now owns 8,005 shares of the company’s stock, valued at approximately $207,089.35. The disclosure for this sale can be found here. Insiders sold 44,421 shares of company stock worth $1,148,472 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.
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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