TEGNA Inc. (TGNA) Shares Bought by NGAM Advisors L.P.
NGAM Advisors L.P. raised its position in TEGNA Inc. (NYSE:TGNA) by 310.9% during the second quarter, Holdings Channel reports. The fund owned 180,326 shares of the company’s stock after buying an additional 136,442 shares during the period. NGAM Advisors L.P.’s holdings in TEGNA were worth $2,599,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in TGNA. OppenheimerFunds Inc. increased its position in shares of TEGNA by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 15,799 shares of the company’s stock worth $405,000 after buying an additional 67 shares during the last quarter. Conning Inc. increased its position in shares of TEGNA by 0.7% in the first quarter. Conning Inc. now owns 9,970 shares of the company’s stock worth $255,000 after buying an additional 70 shares during the last quarter. Advantus Capital Management Inc increased its position in shares of TEGNA by 0.4% in the first quarter. Advantus Capital Management Inc now owns 21,442 shares of the company’s stock worth $549,000 after buying an additional 95 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of TEGNA by 0.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 28,193 shares of the company’s stock worth $722,000 after buying an additional 153 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of TEGNA by 1.2% in the first quarter. Mason Street Advisors LLC now owns 29,672 shares of the company’s stock worth $760,000 after buying an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
TEGNA Inc. (NYSE:TGNA) opened at 13.02 on Friday. The stock has a market cap of $2.80 billion, a P/E ratio of 15.92 and a beta of 1.75. The company has a 50-day moving average price of $14.36 and a 200 day moving average price of $20.96. TEGNA Inc. has a 1-year low of $12.78 and a 1-year high of $26.65.
TEGNA (NYSE:TGNA) last issued its earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share (EPS) 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 analysts’ expectations of $486.29 million. During the same quarter last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts expect that TEGNA Inc. will post $1.08 earnings per share for the current fiscal year.
The business also recently announced 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. This represents a $0.28 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 7th. TEGNA’s dividend payout ratio is currently 16.97%.
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A number of equities analysts have recently weighed in on the company. ValuEngine upgraded TEGNA from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Noble Financial reiterated a “buy” rating on shares of TEGNA in a research note on Thursday, August 3rd. BidaskClub downgraded TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $14.00 price objective (down previously from $16.00) on shares of TEGNA in a research note on Wednesday, August 2nd. Finally, FBR & Co dropped their price objective on TEGNA from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.44.
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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