AGF Management Ltd. lowered its holdings in shares of TEGNA Inc. (NYSE:TGNA – Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,819 shares of the company’s stock after selling 13,499 shares during the period. AGF Management Ltd. owned approximately 0.07% of TEGNA worth $2,719,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of TGNA. ProShare Advisors LLC boosted its stake in TEGNA by 15.1% during the fourth quarter. ProShare Advisors LLC now owns 42,853 shares of the company’s stock valued at $908,000 after buying an additional 5,632 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of TEGNA by 318.7% during the fourth quarter. Deutsche Bank AG now owns 1,573,995 shares of the company’s stock valued at $33,353,000 after buying an additional 1,198,044 shares in the last quarter. Quadrant Capital Group LLC raised its position in TEGNA by 35.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,653 shares of the company’s stock valued at $56,000 after buying an additional 693 shares during the period. Retirement Systems of Alabama lifted its stake in TEGNA by 51.9% in the 4th quarter. Retirement Systems of Alabama now owns 443,766 shares of the company’s stock worth $9,403,000 after acquiring an additional 151,673 shares in the last quarter. Finally, Freedom Wealth Alliance LLC acquired a new stake in TEGNA during the 4th quarter worth about $407,000. 86.17% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on TGNA shares. StockNews.com started coverage on TEGNA in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Benchmark cut their target price on shares of TEGNA from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 12th.
TEGNA Stock Up 1.0 %
TEGNA (NYSE:TGNA – Get Free Report) last posted its earnings results on Wednesday, May 10th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. TEGNA had a net margin of 18.50% and a return on equity of 20.62%. The company had revenue of $740.33 million during the quarter, compared to the consensus estimate of $746.00 million. On average, equities research analysts expect that TEGNA Inc. will post 1.75 earnings per share for the current fiscal year.
TEGNA Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, June 8th. TEGNA’s payout ratio is 14.23%.
TEGNA 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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