Kestra Investment Management LLC Has $712,000 Holdings in TEGNA Inc. (NYSE:TGNA)

Kestra Investment Management LLC lifted its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 163.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,116 shares of the company's stock after acquiring an additional 27,961 shares during the period. Kestra Investment Management LLC's holdings in TEGNA were worth $712,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of TEGNA in the 3rd quarter valued at approximately $28,000. Headlands Technologies LLC grew its stake in shares of TEGNA by 48.2% in the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company's stock valued at $63,000 after buying an additional 1,470 shares in the last quarter. CWM LLC grew its stake in shares of TEGNA by 146.3% in the second quarter. CWM LLC now owns 4,614 shares of the company's stock valued at $64,000 after buying an additional 2,741 shares in the last quarter. Blue Trust Inc. grew its stake in shares of TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company's stock valued at $70,000 after buying an additional 3,350 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after buying an additional 764 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.88% of the company's stock.

TEGNA Stock Performance

TGNA stock traded down $0.06 during midday trading on Monday, reaching $18.71. 647,619 shares of the company were exchanged, compared to its average volume of 2,213,219. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The business has a 50-day moving average price of $16.85 and a two-hundred day moving average price of $15.21. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 6.63 and a beta of 0.49.

TEGNA (NYSE:TGNA - Get Free Report) last released 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. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm had revenue of $806.83 million during the quarter, compared to analysts' expectations of $795.72 million. During the same period in the previous year, the business posted $0.39 earnings per share. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on TGNA. Benchmark raised their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price 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. Finally, StockNews.com cut shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Saturday, November 23rd.

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.