Thrivent Financial for Lutherans Has $2.05 Million Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Thrivent Financial for Lutherans boosted its stake in TEGNA Inc. (NYSE:TGNA) by 217.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 129,912 shares of the company’s stock after buying an additional 88,932 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of TEGNA worth $2,050,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new position in TEGNA in the 3rd quarter valued at approximately $28,000. Headlands Technologies LLC grew its holdings in TEGNA by 48.2% in the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock worth $63,000 after purchasing an additional 1,470 shares during the period. CWM LLC grew its holdings in TEGNA by 146.3% in the second quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after purchasing an additional 2,741 shares during the period. Blue Trust Inc. lifted its stake in shares of TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after buying an additional 3,350 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after buying an additional 764 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Insider Activity at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the transaction, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at approximately $2,535,718.80. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TGNA shares. JPMorgan Chase & Co. raised their price target on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Finally, Benchmark lifted their target price on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.

TEGNA Price Performance

TGNA stock opened at $18.65 on Friday. The stock has a market cap of $3.00 billion, a PE ratio of 6.59 and a beta of 0.49. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The firm has a 50 day simple moving average of $16.71 and a two-hundred day simple moving average of $15.17.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company had revenue of $806.83 million during the quarter, compared to analyst estimates of $795.72 million. During the same period in the prior year, the business posted $0.39 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.125 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 2.68%. TEGNA’s payout ratio is currently 17.67%.

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.