HBK Investments L P decreased its holdings in Tegna Inc (NYSE:TGNA) by 56.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 466,930 shares of the company’s stock after selling 605,407 shares during the quarter. HBK Investments L P owned approximately 0.22% of Tegna worth $6,574,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in TGNA. Private Management Group Inc. acquired a new stake in Tegna during the fourth quarter valued at approximately $2,736,000. Janus Henderson Group PLC raised its stake in Tegna by 47.4% during the third quarter. Janus Henderson Group PLC now owns 23,000 shares of the company’s stock valued at $307,000 after buying an additional 7,400 shares in the last quarter. AXA raised its stake in Tegna by 126.0% during the third quarter. AXA now owns 830,352 shares of the company’s stock valued at $11,069,000 after buying an additional 462,916 shares in the last quarter. California Public Employees Retirement System raised its stake in Tegna by 8.2% during the third quarter. California Public Employees Retirement System now owns 689,346 shares of the company’s stock valued at $9,189,000 after buying an additional 52,046 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Tegna by 1,728.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,759 shares of the company’s stock valued at $1,362,000 after buying an additional 91,468 shares in the last quarter. Institutional investors and hedge funds own 99.91% of the company’s stock.
Shares of TGNA stock opened at $10.96 on Friday. Tegna Inc has a 12-month low of $10.46 and a 12-month high of $16.83. The company has a market capitalization of $2,341.45, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 5.22 and a beta of 1.57. 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 issued its quarterly earnings data on Thursday, March 1st. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Tegna had a return on equity of 19.56% and a net margin of 20.74%. The business had revenue of $480.45 million during the quarter, compared to analyst estimates of $491.79 million. During the same period in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. equities research analysts forecast that Tegna Inc will post 1.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 9th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, March 8th. Tegna’s dividend payout ratio (DPR) is 25.93%.
A number of analysts have recently weighed in on TGNA shares. ValuEngine upgraded Tegna from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Wells Fargo upgraded Tegna from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research report on Thursday, January 4th. Noble Financial reiterated a “buy” rating on shares of Tegna in a research report on Friday, March 2nd. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Tegna in a research report on Thursday, February 22nd. Finally, Barclays set a $12.00 price target on Tegna and gave the stock a “sell” rating in a research report on Sunday, March 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.67.
In related news, Director Neal Shapiro sold 12,385 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $12.57, for a total value of $155,679.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Lynn B. Trelstad sold 3,112 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $12.85, for a total value of $39,989.20. Following the transaction, the chief operating officer now directly owns 24,152 shares of the company’s stock, valued at $310,353.20. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.
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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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