Strs Ohio Buys 28,000 Shares of TEGNA Inc. $TGNA

Strs Ohio lifted its stake in shares of TEGNA Inc. (NYSE:TGNA) by 108.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,900 shares of the company’s stock after buying an additional 28,000 shares during the period. Strs Ohio’s holdings in TEGNA were worth $1,096,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TGNA. Financial Consulate Inc. acquired a new position in TEGNA in the 3rd quarter worth about $29,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of TEGNA during the second quarter worth about $38,000. Caitong International Asset Management Co. Ltd increased its stake in shares of TEGNA by 1,018.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,997 shares of the company’s stock valued at $50,000 after buying an additional 2,729 shares during the period. TD Private Client Wealth LLC increased its stake in shares of TEGNA by 13,896.4% in the second quarter. TD Private Client Wealth LLC now owns 3,919 shares of the company’s stock valued at $66,000 after buying an additional 3,891 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in TEGNA by 81.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,963 shares of the company’s stock valued at $66,000 after buying an additional 1,781 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Trading Down 0.1%

NYSE:TGNA opened at $18.91 on Wednesday. TEGNA Inc. has a 52 week low of $14.87 and a 52 week high of $21.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.22 and a current ratio of 2.22. The firm’s fifty day moving average is $19.32 and its 200-day moving average is $19.51. The firm has a market cap of $3.05 billion, a P/E ratio of 8.92 and a beta of 0.13.

TEGNA (NYSE:TGNA) last announced its earnings results on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $650.79 million for the quarter, compared to the consensus estimate of $658.28 million. TEGNA had a return on equity of 12.50% and a net margin of 11.97%.TEGNA’s quarterly revenue was down 19.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. Equities analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, December 5th. TEGNA’s payout ratio is currently 23.58%.

Analyst Ratings Changes

TGNA has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. Wells Fargo & Company cut shares of TEGNA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Finally, Zacks Research raised TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.75.

TEGNA Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.