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

Kestra Investment Management LLC raised its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 163.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,116 shares of the company’s stock after acquiring an additional 27,961 shares during the quarter. Kestra Investment Management LLC’s holdings in TEGNA were worth $712,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Capstone Investment Advisors LLC acquired a new stake in TEGNA during the 3rd quarter worth $429,000. Public Sector Pension Investment Board acquired a new stake in shares of TEGNA during the third quarter worth about $5,539,000. BNP Paribas Financial Markets increased its position in shares of TEGNA by 9.8% during the third quarter. BNP Paribas Financial Markets now owns 39,038 shares of the company’s stock worth $616,000 after purchasing an additional 3,469 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of TEGNA in the 3rd quarter valued at about $133,000. Finally, Qsemble Capital Management LP boosted its position in shares of TEGNA by 235.0% in the 3rd quarter. Qsemble Capital Management LP now owns 63,776 shares of the company’s stock valued at $1,006,000 after purchasing an additional 44,737 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Trading Up 0.6 %

NYSE:TGNA opened at $18.77 on Monday. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $16.85 and its 200-day simple moving average is $15.21. The firm has a market cap of $3.02 billion, a P/E ratio of 6.63 and a beta of 0.49.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $0.39 EPS. TEGNA’s revenue was up 13.1% compared to the same quarter last year. Equities analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a $0.125 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.50 dividend on an annualized basis and a yield of 2.66%. TEGNA’s payout ratio is currently 17.67%.

Insider Buying and Selling at TEGNA

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 completion of the sale, the chief operating officer now owns 154,617 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TGNA. StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd. Benchmark increased their price target on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th.

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.