Empirical Finance LLC purchased a new position in shares of TEGNA Inc. (NYSE:TGNA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 70,675 shares of the company’s stock, valued at approximately $1,019,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its position in TEGNA by 0.4% in the 1st quarter. OppenheimerFunds Inc. now owns 15,799 shares of the company’s stock valued at $405,000 after buying an additional 67 shares during the last quarter. HPM Partners LLC raised its position in TEGNA by 0.6% in the 2nd quarter. HPM Partners LLC now owns 12,764 shares of the company’s stock valued at $184,000 after buying an additional 77 shares during the last quarter. Advantus Capital Management Inc raised its position in TEGNA by 0.4% in the 1st quarter. Advantus Capital Management Inc now owns 21,442 shares of the company’s stock valued at $549,000 after buying an additional 95 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in TEGNA by 0.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 28,193 shares of the company’s stock valued at $722,000 after buying an additional 153 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in TEGNA by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 29,672 shares of the company’s stock valued at $760,000 after buying an additional 341 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This article was originally published by Zolmax and is the property of of Zolmax. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://zolmax.com/investing/empirical-finance-llc-purchases-new-stake-in-tegna-inc-tgna/1639906.html.
A number of equities research analysts recently issued reports on the company. ValuEngine raised TEGNA from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research raised TEGNA from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Noble Financial reissued a “buy” rating on shares of TEGNA in a research report on Thursday, August 3rd. BidaskClub lowered TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $14.00 target price (down previously from $16.00) on shares of TEGNA in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. TEGNA currently has a consensus rating of “Hold” and a consensus target price of $19.79.
This article was originally published by and is the sole property of Zolmax. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://zolmax.com/investing/empirical-finance-llc-purchases-new-stake-in-tegna-inc-tgna/1639906.html
TEGNA Inc. (TGNA) traded down 0.08% on Wednesday, reaching $12.33. The company’s stock had a trading volume of 249,994 shares. The company has a market cap of $2.65 billion, a P/E ratio of 15.07 and a beta of 1.76. The firm’s 50-day moving average price is $13.28 and its 200 day moving average price is $14.96. TEGNA Inc. has a 52-week low of $11.46 and a 52-week high of $17.06.
TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $489.36 million during the quarter, compared to the consensus estimate of $486.29 million. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. Equities analysts anticipate that TEGNA Inc. will post $1.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, September 7th. TEGNA’s dividend payout ratio (DPR) is presently 16.97%.
TEGNA Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
Want to see what other hedge funds are holding TGNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TEGNA Inc. (NYSE:TGNA).
Receive News & Ratings for TEGNA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TEGNA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.