KBC Group NV Acquires 2,019 Shares of TEGNA Inc. (NYSE:TGNA)

KBC Group NV raised its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 35.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,713 shares of the company’s stock after purchasing an additional 2,019 shares during the period. KBC Group NV’s holdings in TEGNA were worth $141,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA in the 3rd quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after acquiring an additional 757 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of TEGNA in the fourth quarter worth $57,000. Quarry LP increased its holdings in shares of TEGNA by 455.2% during the third quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after acquiring an additional 3,300 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after purchasing an additional 764 shares during the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

TEGNA Stock Down 1.2 %

Shares of TEGNA stock opened at $18.12 on Friday. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $18.35 and its 200 day moving average is $16.60. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 6.40 and a beta of 0.52.

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 company had revenue of $806.83 million during the quarter, compared to analyst estimates of $795.72 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. TEGNA’s revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.76%. TEGNA’s dividend payout ratio is currently 17.67%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Benchmark increased their price objective 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. 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. Guggenheim restated a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a report on Friday, January 24th. StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, TEGNA has an average rating of “Moderate Buy” and an average target price of $21.75.

TEGNA Company 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.