United Services Automobile Association Has $512,000 Stock Holdings in TEGNA Inc. (NYSE:TGNA)

United Services Automobile Association increased its position in TEGNA Inc. (NYSE:TGNAGet Rating) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,760 shares of the company’s stock after purchasing an additional 1,089 shares during the quarter. United Services Automobile Association’s holdings in TEGNA were worth $512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new position in TEGNA during the 3rd quarter valued at about $27,000. Ronald Blue Trust Inc. raised its holdings in TEGNA by 231.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,923 shares of the company’s stock worth $40,000 after buying an additional 1,343 shares during the period. Spire Wealth Management raised its holdings in TEGNA by 402.8% during the 3rd quarter. Spire Wealth Management now owns 2,152 shares of the company’s stock worth $44,000 after buying an additional 1,724 shares during the period. Wipfli Financial Advisors LLC bought a new position in shares of TEGNA during the 3rd quarter worth approximately $57,000. Finally, Covestor Ltd grew its stake in shares of TEGNA by 87.0% during the 1st quarter. Covestor Ltd now owns 3,390 shares of the company’s stock worth $76,000 after acquiring an additional 1,577 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TGNA has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on shares of TEGNA from $24.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, February 27th. Guggenheim dropped their price objective on TEGNA from $24.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, February 28th. Finally, StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a report on Saturday, February 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.00.

TEGNA Price Performance

TEGNA stock opened at $15.51 on Wednesday. The stock has a fifty day moving average of $19.46 and a 200-day moving average of $20.16. The stock has a market capitalization of $3.47 billion, a P/E ratio of 5.52 and a beta of 0.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 3.33 and a current ratio of 3.33. TEGNA Inc. has a 52 week low of $15.09 and a 52 week high of $22.74.

TEGNA (NYSE:TGNAGet Rating) last posted its earnings results on Monday, February 27th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $917.30 million during the quarter, compared to analysts’ expectations of $944.90 million. TEGNA had a net margin of 19.23% and a return on equity of 22.51%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, sell-side analysts expect that TEGNA Inc. will post 1.75 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.38 dividend on an annualized basis and a yield of 2.45%. TEGNA’s dividend payout ratio (DPR) is presently 13.52%.


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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.

Further Reading

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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