TEGNA Inc. (NYSE:TGNA) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its holdings in TEGNA Inc. (NYSE:TGNA) by 82.3% during the third quarter, HoldingsChannel reports. The fund owned 48,504 shares of the company’s stock after purchasing an additional 21,900 shares during the period. Cerity Partners LLC’s holdings in TEGNA were worth $765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA in the 3rd quarter valued at about $28,000. Headlands Technologies LLC boosted its stake in shares of TEGNA by 48.2% during the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock worth $63,000 after buying an additional 1,470 shares during the period. CWM LLC raised its stake in shares of TEGNA by 146.3% during the second quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after purchasing an additional 2,741 shares during the last quarter. Blue Trust Inc. boosted its holdings in TEGNA by 247.8% in the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after purchasing an additional 3,350 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after purchasing an additional 764 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Benchmark increased their price target 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. StockNews.com downgraded TEGNA from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Finally, JPMorgan Chase & Co. boosted their target price on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

Insiders Place Their Bets

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares in the company, valued at approximately $2,535,718.80. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by company insiders.

TEGNA Trading Down 0.7 %

TGNA opened at $18.71 on Friday. The firm’s 50 day moving average is $17.14 and its 200-day moving average is $15.31. The firm has a market capitalization of $3.01 billion, a P/E ratio of 6.61 and a beta of 0.52. TEGNA Inc. has a 52-week low of $12.35 and a 52-week 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.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The firm had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. Analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, December 6th. TEGNA’s payout ratio is currently 17.67%.

TEGNA 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.