TEGNA Inc. (NYSE:TGNA) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,653 shares of the company’s stock after purchasing an additional 7,137 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of TEGNA worth $2,172,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TGNA. LSV Asset Management lifted its holdings in TEGNA by 29.5% during the 2nd quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock worth $111,862,000 after buying an additional 1,827,471 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of TEGNA by 5.8% in the first quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock valued at $400,371,000 after acquiring an additional 1,471,691 shares in the last quarter. Millennium Management LLC boosted its holdings in TEGNA by 395.9% in the second quarter. Millennium Management LLC now owns 930,722 shares of the company’s stock valued at $12,974,000 after purchasing an additional 743,052 shares during the period. Squarepoint Ops LLC grew its stake in TEGNA by 132.9% during the 2nd quarter. Squarepoint Ops LLC now owns 916,760 shares of the company’s stock worth $12,780,000 after purchasing an additional 523,120 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in TEGNA by 18.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company’s stock worth $36,479,000 after purchasing an additional 384,687 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TGNA shares. JPMorgan Chase & Co. boosted their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. Benchmark boosted their price target on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Insider Activity at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the sale, the chief operating officer now owns 154,617 shares in the company, valued at approximately $2,535,718.80. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by corporate insiders.

TEGNA Trading Down 3.1 %

TGNA opened at $18.11 on Friday. The business’s 50-day simple moving average is $15.97 and its 200-day simple moving average is $14.92. The company has a market cap of $2.92 billion, a P/E ratio of 6.40 and a beta of 0.49. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company had revenue of $806.83 million for the quarter, compared to analysts’ expectations of $795.72 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts expect that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

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.