Federated Investors Inc. PA Grows Holdings in TEGNA Inc. (NYSE:TGNA)

Federated Investors Inc. PA lifted its stake in TEGNA Inc. (NYSE:TGNA) by 453.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 539,307 shares of the company’s stock after buying an additional 441,894 shares during the period. Federated Investors Inc. PA’s holdings in TEGNA were worth $7,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of TEGNA by 1.5% in the first quarter. BlackRock Inc. now owns 25,806,084 shares of the company’s stock worth $363,866,000 after buying an additional 379,594 shares during the period. LSV Asset Management increased its holdings in shares of TEGNA by 15.9% in the first quarter. LSV Asset Management now owns 6,267,061 shares of the company’s stock worth $88,365,000 after buying an additional 861,509 shares during the period. Northern Trust Corp increased its holdings in shares of TEGNA by 24.4% in the fourth quarter. Northern Trust Corp now owns 5,353,589 shares of the company’s stock worth $58,194,000 after buying an additional 1,050,702 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of TEGNA by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,104,510 shares of the company’s stock worth $71,974,000 after purchasing an additional 209,070 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of TEGNA in the fourth quarter worth about $45,100,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

NYSE TGNA opened at $14.82 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $3.23 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. TEGNA Inc. has a 1 year low of $10.24 and a 1 year high of $16.57.

TEGNA (NYSE:TGNA) last posted its earnings results on Thursday, May 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $516.80 million for the quarter, compared to analysts’ expectations of $512.45 million. TEGNA had a return on equity of 30.61% and a net margin of 18.91%. TEGNA’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. As a group, analysts anticipate that TEGNA Inc. will post 1.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.28 annualized dividend and a yield of 1.89%. TEGNA’s payout ratio is 15.30%.

Several analysts recently issued reports on the company. Stephens cut TEGNA from an “overweight” rating to an “equal” rating and cut their target price for the stock from $19.00 to $17.00 in a research note on Tuesday. Zacks Investment Research raised TEGNA from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of TEGNA in a research note on Friday, May 10th. Noble Financial set a $20.00 target price on TEGNA and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Barrington Research reissued a “buy” rating and issued a $17.00 target price on shares of TEGNA in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. TEGNA has a consensus rating of “Hold” and an average price target of $15.63.

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TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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