(NYSE:TGNA) by 126.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,849,357 shares of the company's stock after acquiring an additional 3,268,362 shares during the period. The value in dollars went from $10,560,000 to $2,082,000 a change of 80.3% quarter to quarter.
BT Investment Management Ltd purchased a new stake in TEGNA Inc. BlackRock Inc. now owns 13,306,717 shares of the company's stock valued at $340,917,000 after buying an additional 12,896,690 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of TEGNA by 104.6% in the second quarter. Squarepoint Ops LLC now owns 214,161 shares with a value of $3,086,000.
Short traders are feeling a little more bullish on the company lately if you take into consideration the decrease in short interest. Victory Capital Management Inc. grew its holdings in shares of TEGNA by 90.5% during the second quarter. State Street Corp now owns 9,731,739 shares of the company's stock worth $249,313,000 after purchasing an additional 92,596 shares during the last quarter. Institutional investors and hedge funds own 98.00% of the company's stock.
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Several brokerages have recently commented on TGNA. BidaskClub cut TEGNA from a "buy" rating to a "hold" rating in a report on Saturday, August 5th. 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. Finally, Jefferies Group LLC restated a "hold" rating and issued a $14.00 price target (down from $16.00) on shares of TEGNA in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $19.79.
TEGNA (TGNA) traded down 0.16% during mid-day trading on Friday, reaching $12.24. Overall, volume was up 116.15% over the stocks normal daily volume.
Shares last traded at $12.24 a tad below $12.85, the 50 day moving average and impressively lower than the 200 day moving average of $14.81. The firm has a market capitalization of $2.63 billion, a PE ratio of 14.96 and a beta of 1.76.
TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the Zacks' consensus estimate of $0.27 by $0.02. The business had revenue of $489.36 million for the quarter, compared to analyst estimates of $486.29 million. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. During the same period in the prior year, the firm earned $0.50 EPS. On average, analysts anticipate that TEGNA will post $1.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.07 dividend. The ex-dividend date will be Thursday the 7th of September 2017. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.26%. TEGNA's dividend payout ratio is 16.97%.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company operates through TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment) segments. As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content. Nationwide Fund Advisors lifted its holdings in shares of TEGNA by 361.5% in the second quarter.