Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decides to keep it stake in Tegna Inc. (TGNA) to the level of $2,846,000

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decides to keep it stake in Tegna Inc. (TGNA) to the level of $2,846,000

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp continued to hold its position in Tegna Inc. (NYSE:TGNA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 130,170 shares of the company’s stock at the end of the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.06% of Tegna worth $2,846,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TGNA. Adage Capital Partners GP L.L.C. acquired a new position in Tegna during the first quarter valued at $7,750,000. Panagora Asset Management Inc. increased its position in Tegna by 16.6% in the first quarter. Panagora Asset Management Inc. now owns 704,365 shares of the company’s stock valued at $16,524,000 after buying an additional 100,333 shares during the last quarter. Seven Eight Capital LLC increased its position in Tegna by 58,666.7% in the first quarter. Seven Eight Capital LLC now owns 8,815 shares of the company’s stock valued at $207,000 after buying an additional 8,800 shares during the last quarter. Royal Bank of Canada increased its position in Tegna by 11.5% in the first quarter. Royal Bank of Canada now owns 1,207,252 shares of the company’s stock valued at $28,322,000 after buying an additional 124,111 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Tegna by 247.4% in the first quarter. Squarepoint Ops LLC now owns 69,881 shares of the company’s stock valued at $1,640,000 after buying an additional 49,766 shares during the last quarter. Institutional investors own 87.80% of the company’s stock.

Shares of Tegna Inc. (NYSE:TGNA) opened at 22.35 on Friday. The stock has a market cap of $4.79 billion, a P/E ratio of 11.08 and a beta of 1.66. Tegna Inc. has a one year low of $17.91 and a one year high of $28.95. The stock has a 50 day moving average of $20.50 and a 200 day moving average of $21.75.

Tegna (NYSE:TGNA) last issued its earnings results on Wednesday, November 2nd. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. Tegna had a net margin of 14.33% and a return on equity of 19.14%. The firm had revenue of $860.27 million for the quarter, compared to analysts’ expectations of $871.27 million. During the same quarter last year, the business earned $0.37 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. On average, analysts forecast that Tegna Inc. will post $2.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Wednesday, December 7th. Tegna’s dividend payout ratio is 26.67%.

TGNA has been the topic of several research reports. Argus restated a “buy” rating and set a $33.00 price objective on shares of Tegna in a report on Saturday, August 13th. Benchmark Co. initiated coverage on shares of Tegna in a report on Friday, August 19th. They set a “buy” rating and a $26.00 price objective on the stock. TheStreet downgraded shares of Tegna from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. FBR & Co restated a “hold” rating and set a $24.00 price objective on shares of Tegna in a report on Thursday, September 8th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Tegna in a report on Monday, September 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $25.63.

About Tegna

TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.

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