Stifel Financial Corp Purchases 4,239 Shares of TEGNA Inc. (NYSE:TGNA)

Stifel Financial Corp increased its position in shares of TEGNA Inc. (NYSE:TGNA) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,632 shares of the company’s stock after acquiring an additional 4,239 shares during the quarter. Stifel Financial Corp owned about 0.05% of TEGNA worth $1,288,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP raised its holdings in TEGNA by 455.2% during the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after purchasing an additional 3,300 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of TEGNA during the 3rd quarter worth approximately $3,096,000. Kestra Investment Management LLC raised its stake in shares of TEGNA by 163.0% during the third quarter. Kestra Investment Management LLC now owns 45,116 shares of the company’s stock worth $712,000 after buying an additional 27,961 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in TEGNA in the third quarter valued at approximately $429,000. Finally, Public Sector Pension Investment Board bought a new position in TEGNA in the third quarter valued at approximately $5,539,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Trading Up 1.5 %

TGNA opened at $18.40 on Friday. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The firm has a market cap of $2.96 billion, a PE ratio of 6.50 and a beta of 0.52. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The firm’s fifty day moving average is $17.77 and its two-hundred day moving average is $15.62.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. During the same quarter last year, the business posted $0.39 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, December 6th. TEGNA’s dividend payout ratio (DPR) is presently 17.67%.

Insider Activity at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction that occurred 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 approximately $2,535,718.80. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TGNA has been the subject of several recent research reports. Benchmark upped their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $21.00 to $23.00 in a research note on Thursday. JPMorgan Chase & Co. increased their target price on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a report on Friday, December 13th.

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.