Hotchkis & Wiley Capital Management LLC Sells 264,150 Shares of TEGNA Inc. (NYSE:TGNA)

Hotchkis & Wiley Capital Management LLC lessened its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 31.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 587,540 shares of the company's stock after selling 264,150 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.36% of TEGNA worth $9,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in TEGNA during the third quarter worth about $28,000. US Bancorp DE boosted its stake in TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after buying an additional 764 shares in the last quarter. Headlands Technologies LLC grew its position in TEGNA by 48.2% in the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company's stock valued at $63,000 after acquiring an additional 1,470 shares during the period. CWM LLC grew its position in TEGNA by 146.3% in the second quarter. CWM LLC now owns 4,614 shares of the company's stock valued at $64,000 after acquiring an additional 2,741 shares during the period. Finally, Blue Trust Inc. raised its stake in TEGNA by 247.8% during the second quarter. Blue Trust Inc. now owns 4,702 shares of the company's stock worth $70,000 after acquiring an additional 3,350 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TGNA shares. StockNews.com cut TEGNA from a "buy" rating to a "hold" rating in a report on Saturday, November 23rd. Benchmark boosted their target price on shares of TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, 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 research note on Tuesday, November 12th.

TEGNA Stock Down 0.7 %

TGNA stock traded down $0.12 during mid-day trading on Thursday, hitting $18.71. 925,548 shares of the company were exchanged, compared to its average volume of 2,202,990. The firm has a market cap of $3.01 billion, a P/E ratio of 6.61 and a beta of 0.52. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The firm's 50 day simple moving average is $17.07 and its 200 day simple moving average is $15.29.

TEGNA (NYSE:TGNA - Get Free Report) last released 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 the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. On average, sell-side analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, December 6th. This represents a $0.50 annualized dividend and a yield of 2.67%. TEGNA's dividend payout ratio (DPR) is presently 17.67%.

Insider Buying and Selling at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the completion of the transaction, the chief operating officer now directly owns 154,617 shares in the company, valued at approximately $2,535,718.80. The trade was a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.88% of the company's stock.

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.