Comerica Bank Has $1.41 Million Holdings in TEGNA Inc. (NYSE:TGNA)

Comerica Bank cut its holdings in TEGNA Inc. (NYSE:TGNA) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 76,973 shares of the company’s stock after selling 3,019 shares during the quarter. Comerica Bank’s holdings in TEGNA were worth $1,408,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TGNA. Jones Financial Companies Lllp acquired a new position in shares of TEGNA in the fourth quarter valued at $27,000. Smartleaf Asset Management LLC increased its holdings in shares of TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after purchasing an additional 832 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock valued at $31,000 after purchasing an additional 749 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of TEGNA in the fourth quarter valued at $32,000. Finally, GAMMA Investing LLC grew its stake in shares of TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after acquiring an additional 757 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Trading Down 0.4%

TGNA opened at $17.06 on Monday. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a 50-day simple moving average of $17.05 and a 200 day simple moving average of $17.73. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 6.03 and a beta of 0.31.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business had revenue of $680.05 million during the quarter, compared to analysts’ expectations of $677.24 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. TEGNA’s revenue was down 4.8% compared to the same quarter last year. Analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 annualized dividend and a yield of 2.93%. TEGNA’s dividend payout ratio is 14.12%.

Analyst Ratings Changes

TGNA has been the topic of several research reports. Benchmark decreased their price target on shares of TEGNA from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Guggenheim decreased their price target on shares of TEGNA from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on shares of TEGNA from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, TEGNA has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

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.