TEGNA Inc. (NYSE:TGNA) Shares Acquired by State Street Corp

State Street Corp lifted its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,194,619 shares of the company's stock after acquiring an additional 276,699 shares during the period. State Street Corp owned 5.09% of TEGNA worth $129,991,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA during the 3rd quarter worth about $28,000. Headlands Technologies LLC raised its stake in shares of TEGNA by 48.2% in the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company's stock valued at $63,000 after acquiring an additional 1,470 shares during the period. CWM LLC lifted its holdings in shares of TEGNA by 146.3% during the 2nd quarter. CWM LLC now owns 4,614 shares of the company's stock valued at $64,000 after acquiring an additional 2,741 shares in the last quarter. Quarry LP boosted its position in TEGNA by 455.2% during the 3rd quarter. Quarry LP now owns 4,025 shares of the company's stock worth $64,000 after purchasing an additional 3,300 shares during the period. Finally, Blue Trust Inc. increased 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. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. StockNews.com raised shares of TEGNA from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Benchmark boosted their target price on shares of TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, November 8th.

Insider Transactions at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.88% of the company's stock.

TEGNA Stock Down 0.9 %

Shares of NYSE:TGNA traded down $0.16 during trading on Friday, hitting $18.50. The company's stock had a trading volume of 1,174,298 shares, compared to its average volume of 2,178,333. The company has a market capitalization of $2.98 billion, a PE ratio of 6.54 and a beta of 0.52. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week 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. The stock's 50-day moving average price is $17.52 and its two-hundred day moving average price is $15.51.

TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The company had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. During the same period in the prior year, the company posted $0.39 EPS. TEGNA's quarterly revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts expect that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, December 6th. TEGNA's dividend payout ratio is currently 17.67%.

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.