Thrivent Financial for Lutherans Grows Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Thrivent Financial for Lutherans lifted its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 217.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,912 shares of the company's stock after acquiring an additional 88,932 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of TEGNA worth $2,050,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TGNA. LSV Asset Management increased its holdings in shares of TEGNA by 29.5% in the 2nd quarter. LSV Asset Management now owns 8,024,562 shares of the company's stock valued at $111,862,000 after purchasing an additional 1,827,471 shares in the last quarter. Millennium Management LLC increased its stake in TEGNA by 395.9% in the 2nd quarter. Millennium Management LLC now owns 930,722 shares of the company's stock valued at $12,974,000 after purchasing an additional 743,052 shares in the last quarter. Empowered Funds LLC raised its holdings in TEGNA by 757.4% during the third quarter. Empowered Funds LLC now owns 662,417 shares of the company's stock worth $10,453,000 after purchasing an additional 585,156 shares during the last quarter. Squarepoint Ops LLC boosted its position in TEGNA by 132.9% during the second quarter. Squarepoint Ops LLC now owns 916,760 shares of the company's stock worth $12,780,000 after purchasing an additional 523,120 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its holdings in TEGNA by 315.1% in the second quarter. Dark Forest Capital Management LP now owns 472,976 shares of the company's stock valued at $6,593,000 after purchasing an additional 359,033 shares during the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TGNA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped 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 lowered TEGNA from a "buy" rating to a "hold" rating in a research note on Saturday, November 23rd. Finally, Benchmark lifted their price objective on TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, November 8th.

TEGNA Trading Up 0.6 %

Shares of TEGNA stock traded up $0.12 during trading hours on Friday, reaching $18.77. 966,480 shares of the company's stock were exchanged, compared to its average volume of 2,220,115. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The company has a fifty day moving average of $16.78 and a 200-day moving average of $15.19. 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 firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 6.66 and a beta of 0.49.

TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. Sell-side analysts forecast that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued 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 17.67%.

Insider Buying and Selling

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.88, for a total transaction of $347,000.00. Following the completion of the sale, the chief operating officer now owns 179,617 shares of the company's stock, valued at approximately $2,493,083.96. The trade was a 12.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by company insiders.

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.