TEGNA Inc. $TGNA Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC boosted its position in shares of TEGNA Inc. (NYSE:TGNA) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 229,455 shares of the company’s stock after acquiring an additional 5,901 shares during the quarter. AE Wealth Management LLC owned 0.14% of TEGNA worth $3,846,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TGNA. Envestnet Asset Management Inc. lifted its position in shares of TEGNA by 4.2% during the first quarter. Envestnet Asset Management Inc. now owns 178,728 shares of the company’s stock worth $3,256,000 after purchasing an additional 7,226 shares in the last quarter. Victory Capital Management Inc. increased its stake in 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. Jennison Associates LLC lifted its holdings in TEGNA by 152.5% during the 1st quarter. Jennison Associates LLC now owns 75,976 shares of the company’s stock worth $1,384,000 after buying an additional 45,892 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in TEGNA in the 1st quarter valued at approximately $1,530,000. Finally, Capital Management Corp VA boosted its position in TEGNA by 1.1% in the 1st quarter. Capital Management Corp VA now owns 769,175 shares of the company’s stock valued at $14,014,000 after buying an additional 8,585 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGNA has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of TEGNA in a research note on Wednesday, October 8th. Guggenheim restated a “neutral” rating and set a $19.00 price target on shares of TEGNA in a report on Friday, August 22nd. Wells Fargo & Company cut TEGNA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Finally, Zacks Research downgraded TEGNA from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.75.

TEGNA Price Performance

Shares of TGNA opened at $19.95 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47. TEGNA Inc. has a 1-year low of $14.87 and a 1-year high of $21.35. The stock has a market cap of $3.21 billion, a PE ratio of 7.17 and a beta of 0.25. The firm has a fifty day moving average price of $20.36 and a 200 day moving average price of $18.48.

TEGNA (NYSE:TGNA) last announced its earnings results on Thursday, November 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $650.79 million during the quarter, compared to analyst estimates of $658.28 million. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The firm’s revenue for the quarter was down 19.3% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. As a group, sell-side analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. TEGNA’s payout ratio is presently 17.99%.

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.