Jane Street Group LLC cut its holdings in shares of Tegna Inc (NYSE:TGNA) by 83.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,329 shares of the company’s stock after selling 168,439 shares during the period. Jane Street Group LLC’s holdings in Tegna were worth $431,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. increased its stake in Tegna by 32.2% during the second quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock worth $253,518,000 after purchasing an additional 4,286,497 shares during the period. Victory Capital Management Inc. increased its stake in shares of Tegna by 90.5% during the second quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock worth $185,828,000 after buying an additional 6,127,293 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Tegna by 0.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,177,342 shares of the company’s stock worth $148,994,000 after buying an additional 57,105 shares during the period. New South Capital Management Inc. increased its stake in shares of Tegna by 8.1% during the second quarter. New South Capital Management Inc. now owns 9,538,854 shares of the company’s stock worth $137,455,000 after buying an additional 711,382 shares during the period. Finally, Fairpointe Capital LLC increased its stake in shares of Tegna by 13.3% during the second quarter. Fairpointe Capital LLC now owns 8,478,230 shares of the company’s stock worth $122,171,000 after buying an additional 993,543 shares during the period. Institutional investors own 99.71% of the company’s stock.
TGNA has been the topic of a number of recent research reports. FBR & Co restated a “hold” rating and set a $15.00 target price on shares of Tegna in a research note on Wednesday, September 20th. BidaskClub lowered shares of Tegna from a “sell” rating to a “strong sell” rating in a research note 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. Zacks Investment Research upgraded shares of Tegna from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, Noble Financial restated a “buy” rating on shares of Tegna in a research note on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.88.
Tegna Inc (TGNA) opened at $14.09 on Tuesday. The company has a market cap of $2,931.10, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 10.35 and a beta of 1.72. Tegna Inc has a one year low of $11.59 and a one year high of $17.08. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 4.30.
Tegna (NYSE:TGNA) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company had revenue of $464.26 million for the quarter, compared to analyst estimates of $463.23 million. Tegna had a net margin of 11.10% and a return on equity of 20.50%. The firm’s revenue was down 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. equities research analysts anticipate that Tegna Inc will post 1.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a $0.07 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.28 annualized dividend and a yield of 1.99%. Tegna’s dividend payout ratio is currently 20.90%.
Tegna announced that its board has authorized a stock buyback plan on Tuesday, September 19th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 11.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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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