Global Financial Private Capital LLC bought a new position in Tegna Inc (NYSE:TGNA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 24,857 shares of the company’s stock, valued at approximately $350,000.
Several other large investors have also added to or reduced their stakes in TGNA. Cerebellum GP LLC purchased a new stake in shares of Tegna in the 4th quarter worth about $104,000. Point72 Asset Management L.P. purchased a new stake in shares of Tegna in the 3rd quarter worth about $110,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tegna by 523.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,337 shares of the company’s stock worth $138,000 after buying an additional 8,678 shares during the period. Conning Inc. purchased a new stake in shares of Tegna in the 4th quarter worth about $147,000. Finally, Outfitter Advisors LTD. purchased a new stake in shares of Tegna in the 4th quarter worth about $159,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
Tegna Inc (NYSE:TGNA) opened at $12.97 on Wednesday. The stock has a market cap of $2,841.65, a PE ratio of 11.27, a P/E/G ratio of 6.26 and a beta of 1.55. Tegna Inc has a one year low of $11.59 and a one year high of $16.98. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.96 and a quick ratio of 1.96.
Tegna (NYSE:TGNA) last announced its quarterly earnings results on Thursday, March 1st. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $480.45 million for the quarter, compared to analysts’ expectations of $491.79 million. Tegna had a net margin of 20.74% and a return on equity of 19.56%. Tegna’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. analysts expect that Tegna Inc will post 1.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, March 8th. Tegna’s dividend payout ratio is currently 13.15%.
A number of analysts have recently weighed in on TGNA shares. Zacks Investment Research raised shares of Tegna from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Barclays set a $12.00 target price on shares of Tegna and gave the stock a “sell” rating in a research report on Sunday. BidaskClub downgraded shares of Tegna from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th. ValuEngine upgraded shares of Tegna from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Finally, Noble Financial reiterated a “buy” rating on shares of Tegna in a research note on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Tegna currently has a consensus rating of “Hold” and an average price target of $17.89.
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.