LSV Asset Management Has $145.79 Million Stock Position in TEGNA Inc. $TGNA

LSV Asset Management lowered its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 4.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,171,371 shares of the company’s stock after selling 341,479 shares during the period. LSV Asset Management’s holdings in TEGNA were worth $145,794,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Hillsdale Investment Management Inc. raised its position in shares of TEGNA by 33.6% in the second quarter. Hillsdale Investment Management Inc. now owns 317,500 shares of the company’s stock valued at $5,321,000 after purchasing an additional 79,900 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of TEGNA by 60.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 37,414 shares of the company’s stock worth $627,000 after buying an additional 14,094 shares during the period. Brandywine Global Investment Management LLC grew its stake in TEGNA by 20.5% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 702,453 shares of the company’s stock valued at $11,773,000 after buying an additional 119,690 shares during the last quarter. New York Life Investment Management LLC bought a new position in TEGNA in the 3rd quarter valued at about $6,936,000. Finally, Valeo Financial Advisors LLC bought a new position in TEGNA in the 2nd quarter valued at about $5,504,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. Wells Fargo & Company cut TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Finally, Zacks Research upgraded TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.75.

TEGNA Stock Down 0.6%

NYSE TGNA opened at $20.78 on Thursday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.81. TEGNA Inc. has a 1-year low of $14.87 and a 1-year high of $21.35. The company has a 50 day moving average of $19.30 and a 200-day moving average of $19.69. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 9.80 and a beta of 0.15.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $650.79 million for the quarter, compared to the consensus estimate of $658.28 million. TEGNA had a return on equity of 12.50% and a net margin of 11.97%.TEGNA’s revenue was down 19.3% on a year-over-year basis. During the same quarter last year, the business earned $0.94 EPS. On average, equities research analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were given a $0.125 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. TEGNA’s dividend payout ratio (DPR) is presently 23.58%.

TEGNA Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.