TEGNA Inc. (TGNA) Stake Maintained by Henderson Group PLC
Henderson Group PLC held its position in TEGNA Inc. (NYSE:TGNA) during the third quarter, Holdings Channel reports. The fund owned 29,488 shares of the company’s stock at the end of the third quarter. Henderson Group PLC’s holdings in TEGNA were worth $644,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of TEGNA by 2.6% in the second quarter. Vanguard Group Inc. now owns 19,514,232 shares of the company’s stock valued at $452,145,000 after buying an additional 485,564 shares in the last quarter. Fairpointe Capital LLC boosted its position in shares of TEGNA by 16.2% in the second quarter. Fairpointe Capital LLC now owns 5,140,932 shares of the company’s stock valued at $119,115,000 after buying an additional 718,293 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TEGNA by 23.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,470,207 shares of the company’s stock valued at $103,561,000 after buying an additional 850,354 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of TEGNA by 0.3% in the second quarter. BlackRock Fund Advisors now owns 3,368,651 shares of the company’s stock valued at $78,052,000 after buying an additional 11,163 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of TEGNA by 2.2% in the second quarter. BlackRock Group LTD now owns 1,659,117 shares of the company’s stock valued at $38,442,000 after buying an additional 35,250 shares in the last quarter. Hedge funds and other institutional investors own 85.10% of the company’s stock.
TEGNA Inc. (NYSE:TGNA) traded down 0.46% during midday trading on Friday, reaching $21.61. 977,313 shares of the company were exchanged. The company has a 50-day moving average of $22.11 and a 200 day moving average of $21.64. TEGNA Inc. has a 52 week low of $17.91 and a 52 week high of $25.38. The firm has a market capitalization of $4.63 billion, a PE ratio of 10.71 and a beta of 1.68.
TEGNA (NYSE:TGNA) last released its earnings results on Wednesday, November 2nd. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. The company earned $860.27 million during the quarter, compared to analyst estimates of $871.27 million. TEGNA had a return on equity of 19.14% and a net margin of 14.33%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 earnings per share. Equities analysts predict that TEGNA Inc. will post $2.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were issued a $0.14 dividend. The ex-dividend date was Wednesday, December 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.59%. TEGNA’s payout ratio is currently 26.67%.
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TGNA has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed a “hold” rating on shares of TEGNA in a research note on Monday, September 26th. Barclays PLC reiterated a “sell” rating and set a $20.00 target price on shares of TEGNA in a research report on Thursday, November 3rd. J P Morgan Chase & Co reiterated a “buy” rating and set a $23.00 target price on shares of TEGNA in a research report on Thursday, November 3rd. Stephens lowered shares of TEGNA from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 3rd. Finally, FBR & Co upgraded shares of TEGNA from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $26.00 in a research report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.88.
In other news, insider Gracia C. Martore sold 140,179 shares of the stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $22.28, for a total value of $3,123,188.12. Following the completion of the sale, the insider now owns 30,034 shares in the company, valued at $669,157.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by insiders.
TEGNA Company Profile
TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.
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