Synovus Financial Corp Has $148,000 Position in TEGNA Inc. (TGNA)

Synovus Financial Corp increased its holdings in TEGNA Inc. (NYSE:TGNA) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,304 shares of the company’s stock after acquiring an additional 438 shares during the period. Synovus Financial Corp’s holdings in TEGNA were worth $148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TGNA. Retirement Systems of Alabama raised its holdings in shares of TEGNA by 2.1% in the 1st quarter. Retirement Systems of Alabama now owns 103,791 shares of the company’s stock worth $2,659,000 after acquiring an additional 2,165 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of TEGNA by 5.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 32,946 shares of the company’s stock worth $844,000 after acquiring an additional 1,624 shares during the last quarter. State Treasurer State of Michigan raised its holdings in shares of TEGNA by 0.6% in the 1st quarter. State Treasurer State of Michigan now owns 70,512 shares of the company’s stock worth $1,807,000 after acquiring an additional 400 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of TEGNA by 11.5% in the 1st quarter. First Trust Advisors LP now owns 454,967 shares of the company’s stock worth $11,656,000 after acquiring an additional 46,886 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of TEGNA by 4.3% in the 1st quarter. Boston Partners now owns 180,076 shares of the company’s stock worth $4,614,000 after acquiring an additional 7,496 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Shares of TEGNA Inc. (NYSE TGNA) opened at 12.16 on Monday. TEGNA Inc. has a 1-year low of $12.01 and a 1-year high of $26.65. The firm has a 50-day moving average of $13.35 and a 200 day moving average of $15.00. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 14.87 and a beta of 1.76.

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 consensus estimate of $0.27 by $0.02. The business had revenue of $489.36 million during the quarter, compared to analysts’ expectations of $486.29 million. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. Equities research analysts forecast that TEGNA Inc. will post $1.09 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.07 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.28 annualized dividend and a yield of 2.30%. TEGNA’s dividend payout ratio (DPR) is presently 16.97%.

TGNA has been the topic of a number of analyst reports. FBR & Co lowered their target price on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday, May 15th. Wells Fargo & Company reiterated an “outperform” rating and issued a $16.50 price objective on shares of TEGNA in a research note on Thursday, June 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 price objective on shares of TEGNA in a research note on Thursday, June 1st. ValuEngine lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of TEGNA from a “hold” rating to a “strong sell” rating in a research note on Monday, June 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.79.

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About TEGNA

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.

Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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