Uniplan Investment Counsel Inc. cut its stake in shares of Tegna Inc (NYSE:TGNA) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 451,693 shares of the company’s stock after selling 20,995 shares during the period. Uniplan Investment Counsel Inc. owned approximately 0.21% of Tegna worth $6,021,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TGNA. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tegna by 523.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,337 shares of the company’s stock worth $138,000 after acquiring an additional 8,678 shares in the last quarter. Synovus Financial Corp lifted its holdings in Tegna by 4.4% during the second quarter. Synovus Financial Corp now owns 10,304 shares of the company’s stock worth $148,000 after acquiring an additional 438 shares in the last quarter. FNY Partners Fund LP bought a new position in Tegna during the second quarter worth about $158,000. Quantbot Technologies LP bought a new position in Tegna during the third quarter worth about $169,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Tegna by 4.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,599 shares of the company’s stock worth $182,000 after acquiring an additional 499 shares in the last quarter. 99.89% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on the company. BidaskClub lowered Tegna from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. ValuEngine upgraded Tegna from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research lowered Tegna from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Jefferies Group reiterated a “hold” rating and set a $14.00 target price on shares of Tegna in a report on Monday, October 16th. Finally, Royal Bank Of Canada assumed coverage on Tegna in a report on Tuesday, September 26th. They set a “sector perform” rating and a $14.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $17.88.

In other news, EVP Todd A. Mayman sold 36,830 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $12.63, for a total value of $465,162.90. Following the sale, the executive vice president now directly owns 19,420 shares in the company, valued at $245,274.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.

Shares of Tegna Inc (TGNA) traded down $0.16 during trading on Thursday, hitting $13.62. The stock had a trading volume of 1,598,200 shares, compared to its average volume of 3,518,224. The company has a market capitalization of $2,965.54, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 10.48 and a beta of 1.72. Tegna Inc has a 12 month low of $11.59 and a 12 month high of $17.08. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 4.30.

Tegna (NYSE:TGNA) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $464.26 million for the quarter, compared to analyst estimates of $463.23 million. Tegna had a return on equity of 20.50% and a net margin of 11.10%. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. analysts expect that Tegna Inc will post 1.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.06%. Tegna’s dividend payout ratio (DPR) is 20.90%.

Tegna announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 19th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 11.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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Tegna Profile

Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.

Institutional Ownership by Quarter for Tegna (NYSE:TGNA)

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