Atlantic Union Bankshares Corp lowered its position in shares of TEGNA Inc. (NYSE:TGNA) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,917 shares of the company’s stock after selling 2,000 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in TEGNA were worth $316,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of TGNA. Standard General L.P. bought a new position in shares of TEGNA during the 2nd quarter worth about $134,378,000. UBS Group AG boosted its position in shares of TEGNA by 4,704.6% during the 2nd quarter. UBS Group AG now owns 4,435,213 shares of the company’s stock worth $67,193,000 after purchasing an additional 4,342,901 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of TEGNA by 14.4% during the 2nd quarter. AQR Capital Management LLC now owns 10,710,361 shares of the company’s stock worth $159,691,000 after purchasing an additional 1,349,780 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of TEGNA by 308.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,262,600 shares of the company’s stock worth $19,129,000 after purchasing an additional 953,829 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of TEGNA by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 22,630,199 shares of the company’s stock worth $342,848,000 after purchasing an additional 841,666 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors and hedge funds.
NYSE:TGNA opened at $17.00 on Wednesday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44. TEGNA Inc. has a 52 week low of $11.25 and a 52 week high of $17.29. The firm has a 50-day moving average price of $16.23 and a two-hundred day moving average price of $15.42.
TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The firm had revenue of $551.86 million during the quarter, compared to analyst estimates of $540.52 million. TEGNA had a net margin of 16.15% and a return on equity of 24.84%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. As a group, sell-side analysts forecast that TEGNA Inc. will post 1.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.28 annualized dividend and a yield of 1.65%. TEGNA’s dividend payout ratio (DPR) is 15.30%.
TGNA has been the topic of a number of research analyst reports. Wells Fargo & Co initiated coverage on shares of TEGNA in a research report on Tuesday, September 24th. They set a “market perform” rating and a $17.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of TEGNA in a research report on Monday, October 28th. They set a “neutral” rating and a $18.00 price objective on the stock. ValuEngine raised shares of TEGNA from a “strong sell” rating to a “sell” rating in a research report on Friday, November 1st. Barrington Research reissued a “buy” rating and set a $20.00 price objective on shares of TEGNA in a research report on Thursday, November 14th. Finally, Benchmark increased their price objective on shares of TEGNA to and gave the stock a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. TEGNA currently has a consensus rating of “Buy” and a consensus target price of $18.25.
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.
See Also: What is Cost of Goods Sold (COGS)?
Want to see what other hedge funds are holding TGNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TEGNA Inc. (NYSE:TGNA).
Receive News & Ratings for TEGNA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TEGNA and related companies with MarketBeat.com's FREE daily email newsletter.