Stifel Financial Corp Has $1.29 Million Stake in TEGNA Inc. (NYSE:TGNA)

Stifel Financial Corp lifted its position in shares of TEGNA Inc. (NYSE:TGNA) by 5.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 81,632 shares of the company’s stock after purchasing an additional 4,239 shares during the quarter. Stifel Financial Corp’s holdings in TEGNA were worth $1,288,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP raised its position in TEGNA by 455.2% in the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after buying an additional 3,300 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of TEGNA in the third quarter valued at approximately $3,096,000. Kestra Investment Management LLC lifted its position in shares of TEGNA by 163.0% in the third quarter. Kestra Investment Management LLC now owns 45,116 shares of the company’s stock worth $712,000 after purchasing an additional 27,961 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of TEGNA in the third quarter worth $429,000. Finally, Public Sector Pension Investment Board acquired a new position in TEGNA during the third quarter worth $5,539,000. 92.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TGNA has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $23.00 in a research note on Thursday. StockNews.com raised TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, Benchmark raised their price target on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th.

TEGNA Stock Performance

Shares of TGNA stock opened at $18.40 on Friday. The company has a fifty day moving average price of $17.77 and a two-hundred day moving average price of $15.62. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The stock has a market cap of $2.96 billion, a P/E ratio of 6.50 and a beta of 0.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60.

TEGNA (NYSE:TGNA) last issued its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $806.83 million during the quarter, compared to the consensus estimate of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. TEGNA’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. As a group, equities analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, December 6th. TEGNA’s dividend payout ratio (DPR) is presently 17.67%.

Insider Buying and Selling at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the 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 of the company’s stock, valued at $2,535,718.80. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

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.