TEGNA Inc. (NYSE:TGNA) Shares Bought by US Bancorp DE

US Bancorp DE raised its stake in shares of TEGNA Inc. (NYSE:TGNA) by 20.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,503 shares of the company’s stock after acquiring an additional 764 shares during the period. US Bancorp DE’s holdings in TEGNA were worth $71,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TGNA. Vanguard Group Inc. increased its holdings in TEGNA by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock valued at $400,371,000 after purchasing an additional 1,471,691 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TEGNA by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock worth $143,714,000 after buying an additional 141,638 shares during the period. LSV Asset Management grew its stake in shares of TEGNA by 29.5% in the second quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock valued at $111,862,000 after buying an additional 1,827,471 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of TEGNA by 18.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company’s stock valued at $36,479,000 after buying an additional 384,687 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in TEGNA by 43.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,071,403 shares of the company’s stock worth $14,935,000 after acquiring an additional 325,881 shares in the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Stock Performance

Shares of TEGNA stock opened at $17.64 on Friday. The business has a 50-day simple moving average of $16.05 and a 200-day simple moving average of $14.96. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The company has a market cap of $2.84 billion, a PE ratio of 6.23 and a beta of 0.49.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. The company had revenue of $806.83 million during the quarter, compared to analysts’ expectations of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, equities research analysts forecast that TEGNA Inc. will post 3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares in the company, valued at $2,535,718.80. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TGNA shares. Benchmark lifted their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of TEGNA from a “hold” rating to a “buy” rating in a report on Friday.

TEGNA 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.