Savant Capital LLC Acquires New Stake in TEGNA Inc. $TGNA

Savant Capital LLC bought a new stake in TEGNA Inc. (NYSE:TGNA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,592 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in shares of TEGNA by 51.5% during the 1st quarter. Millennium Management LLC now owns 2,548,981 shares of the company’s stock worth $46,442,000 after purchasing an additional 866,970 shares during the last quarter. Nuveen LLC purchased a new position in shares of TEGNA during the first quarter valued at approximately $15,492,000. Deutsche Bank AG boosted its position in TEGNA by 383.6% during the first quarter. Deutsche Bank AG now owns 756,941 shares of the company’s stock worth $13,791,000 after acquiring an additional 600,407 shares during the last quarter. Jane Street Group LLC boosted its position in TEGNA by 193.0% during the first quarter. Jane Street Group LLC now owns 573,255 shares of the company’s stock worth $10,445,000 after acquiring an additional 377,578 shares during the last quarter. Finally, New Vernon Capital Holdings II LLC purchased a new stake in TEGNA in the 1st quarter worth approximately $6,029,000. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

TEGNA Trading Down 0.1%

Shares of TGNA stock opened at $19.88 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. TEGNA Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $21.35. The firm’s 50 day moving average price is $20.21 and its two-hundred day moving average price is $18.65. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 7.15 and a beta of 0.25.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business had revenue of $650.79 million during the quarter, compared to analyst estimates of $658.28 million. During the same period in the previous year, the company earned $0.94 EPS. TEGNA’s revenue was down 19.3% on a year-over-year basis. On average, analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.50 annualized dividend and a yield of 2.5%. TEGNA’s dividend payout ratio (DPR) is 23.58%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Zacks Research downgraded TEGNA from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Guggenheim restated a “neutral” rating and issued a $19.00 price target on shares of TEGNA in a report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a report on Monday. Finally, Wells Fargo & Company downgraded shares of TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.75.

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.