First Trust Advisors LP boosted its position in Tegna Inc. (NYSE:TGNA) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 706,820 shares of the company’s stock after buying an additional 21,802 shares during the period. First Trust Advisors LP owned approximately 0.33% of Tegna worth $15,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Seven Eight Capital LLC boosted its position in Tegna by 58,666.7% in the first quarter. Seven Eight Capital LLC now owns 8,815 shares of the company’s stock worth $207,000 after buying an additional 8,800 shares during the period. Royal Bank of Canada boosted its position in Tegna by 11.5% in the first quarter. Royal Bank of Canada now owns 1,207,252 shares of the company’s stock worth $28,322,000 after buying an additional 124,111 shares during the period. Squarepoint Ops LLC boosted its position in Tegna by 247.4% in the first quarter. Squarepoint Ops LLC now owns 69,881 shares of the company’s stock worth $1,640,000 after buying an additional 49,766 shares during the period. First Republic Investment Management Inc. boosted its position in Tegna by 24.9% in the first quarter. First Republic Investment Management Inc. now owns 23,222 shares of the company’s stock worth $545,000 after buying an additional 4,631 shares during the period. Finally, BlueMountain Capital Management LLC purchased a new position in Tegna during the first quarter worth approximately $230,000. Institutional investors own 85.93% of the company’s stock.

Institutional Ownership by Quarter for Tegna (NYSE:TGNA)

Shares of Tegna Inc. (NYSE:TGNA) traded down 0.09% during trading on Monday, hitting $22.33. The company’s stock had a trading volume of 925,820 shares. Tegna Inc. has a 52 week low of $17.91 and a 52 week high of $28.95. The firm’s 50 day moving average price is $20.50 and its 200-day moving average price is $21.75. The company has a market cap of $4.79 billion, a PE ratio of 11.07 and a beta of 1.66.

Tegna (NYSE:TGNA) last posted its earnings results on Wednesday, November 2nd. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The business had revenue of $860.27 million for the quarter, compared to analyst estimates of $871.27 million. Tegna had a net margin of 14.33% and a return on equity of 19.14%. During the same quarter in the previous year, the business posted $0.37 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts predict that Tegna Inc. will post $2.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $0.56 dividend on an annualized basis and a yield of 2.51%. Tegna’s dividend payout ratio is currently 26.67%.

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Several analysts have recently issued reports on the company. Argus reiterated a “buy” rating and issued a $33.00 price objective on shares of Tegna in a research note on Saturday, August 13th. Benchmark Co. started coverage on Tegna in a report on Friday, August 19th. They issued a “buy” rating and a $26.00 target price on the stock. TheStreet lowered Tegna from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. FBR & Co reissued a “hold” rating and issued a $24.00 target price on shares of Tegna in a report on Thursday, September 8th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Tegna in a report on Monday, September 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Tegna presently has a consensus rating of “Hold” and a consensus target price of $25.63.

About Tegna

TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.

5 Day Chart for NYSE:TGNA

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