351,000 Shares in TEGNA Inc. (NYSE:TGNA) Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board acquired a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 351,000 shares of the company's stock, valued at approximately $5,539,000. Public Sector Pension Investment Board owned approximately 0.22% of TEGNA as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in TEGNA during the third quarter worth $28,000. Headlands Technologies LLC lifted its holdings in shares of TEGNA by 48.2% during the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company's stock valued at $63,000 after purchasing an additional 1,470 shares during the last quarter. CWM LLC boosted its position in shares of TEGNA by 146.3% in the 2nd quarter. CWM LLC now owns 4,614 shares of the company's stock worth $64,000 after purchasing an additional 2,741 shares in the last quarter. Blue Trust Inc. grew its position in TEGNA by 247.8% during the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company's stock worth $70,000 after purchasing an additional 3,350 shares during the last quarter. Finally, US Bancorp DE boosted its position in TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after buying an additional 764 shares during the last quarter. Institutional investors own 92.19% of the company's stock.

Wall Street Analysts Forecast Growth

TGNA has been the topic of several recent research reports. StockNews.com cut shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Saturday, November 23rd. Benchmark upped their price objective on shares of TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction 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 directly owns 154,617 shares in the company, valued at $2,535,718.80. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

TEGNA Price Performance

NYSE TGNA remained flat at $18.77 on Monday. 1,635,811 shares of the company's stock traded hands, compared to its average volume of 2,217,696. The company has a market cap of $3.02 billion, a P/E ratio of 6.63 and a beta of 0.49. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The business's 50-day moving average price is $16.85 and its 200-day moving average price is $15.21.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly 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 firm had revenue of $806.83 million for 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 quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. Equities analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.66%. TEGNA's dividend payout ratio (DPR) is presently 17.67%.

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.