TEGNA Inc. (NYSE:TGNA) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in TEGNA Inc. (NYSE:TGNA) by 9.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,038 shares of the company’s stock after purchasing an additional 3,469 shares during the quarter. BNP Paribas Financial Markets’ holdings in TEGNA were worth $616,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TGNA. Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA during the 3rd quarter worth 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 valued at $63,000 after purchasing an additional 1,470 shares during the last quarter. 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 valued at $64,000 after purchasing an additional 2,741 shares during the last quarter. Blue Trust Inc. increased its position 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 raised its stake in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after buying an additional 764 shares during the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Benchmark upped their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their target price on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th.

Insider Buying and Selling at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

TEGNA Trading Down 0.1 %

NYSE TGNA opened at $18.66 on Friday. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 6.59 and a beta of 0.52. 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 12 month low of $12.35 and a 12 month high of $19.62. The company’s fifty day moving average price is $17.45 and its two-hundred day moving average price is $15.46.

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

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.50 dividend on an annualized basis and a yield of 2.68%. TEGNA’s payout ratio is presently 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.