Oppenheimer Asset Management Inc. lifted its position in shares of TEGNA Inc. (NYSE:TGNA) by 16.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,910 shares of the company’s stock after purchasing an additional 15,395 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.05% of TEGNA worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in TGNA. Private Management Group Inc. raised its position in TEGNA by 60.7% in the 2nd quarter. Private Management Group Inc. now owns 1,970,303 shares of the company’s stock valued at $21,378,000 after purchasing an additional 744,261 shares during the last quarter. Dimensional Fund Advisors LP raised its position in TEGNA by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,420,909 shares of the company’s stock valued at $47,969,000 after purchasing an additional 62,303 shares during the last quarter. Chicago Equity Partners LLC bought a new position in TEGNA in the 2nd quarter valued at $600,000. BlackRock Inc. raised its position in TEGNA by 31.9% in the 2nd quarter. BlackRock Inc. now owns 24,443,859 shares of the company’s stock valued at $265,215,000 after purchasing an additional 5,911,626 shares during the last quarter. Finally, Cadence Capital Management LLC bought a new position in TEGNA in the 2nd quarter valued at $140,000. 94.27% of the stock is currently owned by institutional investors.
NYSE:TGNA opened at $11.86 on Thursday. TEGNA Inc. has a 1 year low of $10.00 and a 1 year high of $15.60. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.80. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.35 and a beta of 1.66.
TEGNA (NYSE:TGNA) last posted its earnings results on Tuesday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. TEGNA had a return on equity of 27.72% and a net margin of 25.33%. The firm had revenue of $524.08 million during the quarter, compared to analysts’ expectations of $516.52 million. equities research analysts anticipate that TEGNA Inc. will post 1.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.28 dividend on an annualized basis and a yield of 2.36%. TEGNA’s payout ratio is 25.93%.
Several brokerages have issued reports on TGNA. ValuEngine upgraded TEGNA from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded TEGNA from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Noble Financial set a $15.00 target price on TEGNA and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Barrington Research restated a “buy” rating and set a $15.00 target price on shares of TEGNA in a research report on Thursday, August 16th. Finally, Benchmark restated a “buy” rating and set a $17.00 target price on shares of TEGNA in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $14.50.
TEGNA Company Profile
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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