TEGNA Inc. (NYSE:TGNA) Shares Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC raised its position in TEGNA Inc. (NYSE:TGNA) by 163.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 45,116 shares of the company’s stock after purchasing an additional 27,961 shares during the period. Kestra Investment Management LLC’s holdings in TEGNA were worth $712,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TGNA. Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA in the 3rd quarter worth about $28,000. Headlands Technologies LLC grew its position in shares of 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 increased its stake in shares of TEGNA by 146.3% during the 2nd quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after purchasing an additional 2,741 shares in the last quarter. Blue Trust Inc. raised its position in shares of TEGNA by 247.8% during the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock worth $70,000 after purchasing an additional 3,350 shares during the last quarter. Finally, US Bancorp DE raised its position 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 purchasing an additional 764 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Insider Buying and Selling

In other news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 154,617 shares in the company, valued at $2,535,718.80. This represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.88% of the company’s stock.

TEGNA Stock Up 0.6 %

TGNA stock opened at $18.77 on Monday. The company has a 50 day moving average price of $16.85 and a two-hundred day moving average price of $15.21. 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 stock has a market capitalization of $3.02 billion, a P/E ratio of 6.63 and a beta of 0.49. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $795.72 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, sell-side analysts expect that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 2.66%. TEGNA’s payout ratio is currently 17.67%.

Analysts Set New Price Targets

A number of brokerages have commented on TGNA. 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. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd. Finally, Benchmark lifted their price objective on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

About TEGNA

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.