Cetera Investment Advisers Has $534,000 Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Cetera Investment Advisers lessened its position in TEGNA Inc. (NYSE:TGNA) by 17.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,297 shares of the company’s stock after selling 6,094 shares during the period. Cetera Investment Advisers’ holdings in TEGNA were worth $534,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of TEGNA by 8.3% in the fourth quarter. Northern Trust Corp now owns 2,865,335 shares of the company’s stock valued at $52,407,000 after purchasing an additional 219,706 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of TEGNA by 7.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,233,329 shares of the company’s stock worth $22,558,000 after buying an additional 85,113 shares during the period. Principal Financial Group Inc. grew its position in shares of TEGNA by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 934,711 shares of the company’s stock worth $17,030,000 after buying an additional 23,094 shares during the period. Victory Capital Management Inc. grew its position in shares of TEGNA by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 918,416 shares of the company’s stock worth $16,734,000 after buying an additional 10,249 shares during the period. Finally, Invesco Ltd. grew its position in shares of TEGNA by 14.6% during the 4th quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock worth $15,841,000 after buying an additional 110,646 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Price Performance

Shares of TGNA opened at $20.54 on Friday. TEGNA Inc. has a 52-week low of $13.44 and a 52-week high of $21.06. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50 day simple moving average of $17.12 and a 200 day simple moving average of $17.20. The firm has a market capitalization of $3.30 billion, a PE ratio of 7.39 and a beta of 0.28.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. TEGNA had a return on equity of 16.20% and a net margin of 14.99%. The firm had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same quarter in the prior year, the firm posted $0.50 EPS. The business’s revenue was down 5.0% on a year-over-year basis. Sell-side analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. TEGNA’s dividend payout ratio is 17.99%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TGNA shares. Guggenheim decreased their target price on TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, July 2nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $22.00 price objective (up from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Benchmark decreased their price objective on TEGNA from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price objective on TEGNA from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.25.

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.