Cambridge Investment Research Advisors Inc. lifted its holdings in TEGNA Inc. (NYSE:TGNA) by 4.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,599 shares of the company’s stock after acquiring an additional 499 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in TEGNA were worth $182,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in shares of TEGNA by 25.9% in the second quarter. Pacer Advisors Inc. now owns 40,322 shares of the company’s stock valued at $581,000 after acquiring an additional 8,305 shares in the last quarter. New South Capital Management Inc. grew its stake in shares of TEGNA by 8.1% in the second quarter. New South Capital Management Inc. now owns 9,538,854 shares of the company’s stock valued at $137,455,000 after acquiring an additional 711,382 shares in the last quarter. Aviva PLC grew its stake in shares of TEGNA by 0.5% in the second quarter. Aviva PLC now owns 133,517 shares of the company’s stock valued at $1,924,000 after acquiring an additional 710 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of TEGNA by 90.5% in the second quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock valued at $185,828,000 after acquiring an additional 6,127,293 shares in the last quarter. Finally, Twin Capital Management Inc. grew its stake in shares of TEGNA by 18.2% in the second quarter. Twin Capital Management Inc. now owns 68,620 shares of the company’s stock valued at $989,000 after acquiring an additional 10,550 shares in the last quarter. Institutional investors and hedge funds own 98.00% of the company’s stock.

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TGNA has been the topic of several research reports. Noble Financial restated a “buy” rating on shares of TEGNA in a research note on Thursday, July 13th. Benchmark Co. restated a “buy” rating and issued a $20.00 price target on shares of TEGNA in a research note on Friday, June 16th. ValuEngine upgraded shares of TEGNA from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. TheStreet downgraded shares of TEGNA from a “b” rating to a “c+” rating in a research note on Thursday, July 13th. Finally, BidaskClub downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.29.

Shares of TEGNA Inc. (NYSE:TGNA) opened at 12.79 on Friday. TEGNA Inc. has a 52 week low of $11.46 and a 52 week high of $17.06. The firm’s 50-day moving average is $12.78 and its 200-day moving average is $14.78. The firm has a market capitalization of $2.75 billion, a P/E ratio of 15.64 and a beta of 1.76.

TEGNA (NYSE:TGNA) last posted its earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $489.36 million during 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. Equities analysts anticipate that TEGNA Inc. will post $1.09 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, September 7th. TEGNA’s payout ratio is presently 16.97%.

TEGNA declared that its board has authorized a share buyback plan on Tuesday, September 19th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy up to 11.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

TEGNA 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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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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