Intech Investment Management LLC Raises Holdings in TEGNA Inc. (NYSE:TGNA)

Intech Investment Management LLC grew its position in shares of TEGNA Inc. (NYSE:TGNA) by 179.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,661 shares of the company’s stock after purchasing an additional 46,678 shares during the period. Intech Investment Management LLC’s holdings in TEGNA were worth $1,147,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TGNA. Principal Financial Group Inc. lifted its holdings in shares of TEGNA by 26.2% in the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock valued at $14,068,000 after acquiring an additional 184,845 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TEGNA by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock valued at $143,714,000 after acquiring an additional 141,638 shares during the last quarter. Capital Management Corp VA lifted its holdings in shares of TEGNA by 30.3% in the 3rd quarter. Capital Management Corp VA now owns 725,805 shares of the company’s stock valued at $11,453,000 after acquiring an additional 168,667 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of TEGNA in the 3rd quarter valued at about $626,000. Finally, Tidal Investments LLC lifted its holdings in shares of TEGNA by 48.6% in the 1st quarter. Tidal Investments LLC now owns 125,504 shares of the company’s stock valued at $1,871,000 after acquiring an additional 41,034 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TGNA. JPMorgan Chase & Co. increased their price target on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Finally, Benchmark boosted their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the sale, the chief operating officer now owns 154,617 shares in the company, valued at approximately $2,535,718.80. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is owned by company insiders.

TEGNA Stock Down 1.4 %

Shares of NYSE:TGNA opened at $18.65 on Thursday. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The business has a 50 day simple moving average of $16.64 and a two-hundred day simple moving average of $15.15. The firm has a market capitalization of $3.00 billion, a PE ratio of 6.68 and a beta of 0.49. 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 announced 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 analyst estimates of $795.72 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, equities analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $0.125 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.68%. TEGNA’s payout ratio is 17.67%.

About TEGNA

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.