FMR LLC increased its position in Tegna Inc (NYSE:TGNA) by 75.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700,168 shares of the company’s stock after buying an additional 728,426 shares during the period. FMR LLC owned approximately 0.79% of Tegna worth $36,366,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Tegna by 3.3% in the fourth quarter. State Street Corp now owns 9,639,143 shares of the company’s stock valued at $206,184,000 after buying an additional 311,605 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Tegna by 1.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 9,091,624 shares of the company’s stock valued at $198,743,000 after buying an additional 129,752 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Tegna by 47.9% in the third quarter. Victory Capital Management Inc. now owns 5,939,808 shares of the company’s stock valued at $129,844,000 after buying an additional 1,923,809 shares in the last quarter. LSV Asset Management increased its stake in shares of Tegna by 0.7% in the third quarter. LSV Asset Management now owns 5,098,200 shares of the company’s stock valued at $111,446,000 after buying an additional 35,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Tegna by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,775,687 shares of the company’s stock valued at $102,156,000 after buying an additional 158,844 shares in the last quarter. Institutional investors own 85.01% of the company’s stock.
Shares of Tegna Inc (NYSE:TGNA) traded down 0.938% on Friday, reaching $25.865. 1,019,506 shares of the company were exchanged. The company has a market capitalization of $5.55 billion, a P/E ratio of 13.024 and a beta of 1.69. Tegna Inc has a 52-week low of $17.91 and a 52-week high of $26.65. The stock has a 50 day moving average of $25.73 and a 200-day moving average of $22.91.
Tegna (NYSE:TGNA) last posted its earnings results on Monday, February 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.08. The firm earned $887.42 million during the quarter, compared to analysts’ expectations of $887.46 million. Tegna had a net margin of 14.33% and a return on equity of 19.14%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. On average, analysts predict that Tegna Inc will post $1.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 10th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Wednesday, March 8th. Tegna’s dividend payout ratio (DPR) is presently 26.67%.
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Several equities research analysts have weighed in on TGNA shares. Barrington Research reaffirmed an “outperform” rating and set a $36.00 price target (up from $28.00) on shares of Tegna in a research report on Tuesday, March 7th. FBR & Co restated a “buy” rating and set a $30.00 target price on shares of Tegna in a research report on Wednesday, March 8th. TheStreet upgraded Tegna from a “c” rating to a “b” rating in a research report on Thursday, March 30th. Jefferies Group LLC restated a “hold” rating and set a $26.00 target price on shares of Tegna in a research report on Tuesday, February 28th. Finally, Benchmark Co. raised their target price on Tegna from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $27.78.
In other news, SVP William A. Behan sold 24,644 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $25.87, for a total value of $637,540.28. Following the completion of the sale, the senior vice president now directly owns 8,005 shares in the company, valued at $207,089.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Howard D. Elias sold 4,883 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $26.18, for a total transaction of $127,836.94. Following the completion of the sale, the director now owns 14,883 shares of the company’s stock, valued at $389,636.94. The disclosure for this sale can be found here. Insiders sold 44,421 shares of company stock valued at $1,148,472 over the last quarter. Corporate insiders own 0.68% of the company’s stock.
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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