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

Intech Investment Management LLC lifted its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 179.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,661 shares of the company's stock after purchasing an additional 46,678 shares during the quarter. Intech Investment Management LLC's holdings in TEGNA were worth $1,147,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of TEGNA by 52.6% in the 1st quarter. Russell Investments Group Ltd. now owns 43,031 shares of the company's stock valued at $643,000 after purchasing an additional 14,838 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of TEGNA by 0.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 169,994 shares of the company's stock worth $2,537,000 after purchasing an additional 1,489 shares during the last quarter. Quadrature Capital Ltd purchased a new position in TEGNA in the 1st quarter worth about $190,000. Price T Rowe Associates Inc. MD lifted its holdings in TEGNA by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 147,121 shares of the company's stock valued at $2,198,000 after buying an additional 6,749 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in TEGNA in the 1st quarter valued at about $155,000. 92.19% of the stock is owned by institutional investors.

Insider Transactions at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were 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 owns 154,617 shares of the company's stock, valued at approximately $2,535,718.80. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TGNA shares. StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Saturday, November 23rd. Benchmark boosted their price target on TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price objective on TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th.

TEGNA Price Performance

Shares of NYSE TGNA traded down $0.26 during midday trading on Thursday, hitting $18.65. The stock had a trading volume of 1,071,368 shares, compared to its average volume of 2,225,565. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The company has a market capitalization of $3.00 billion, a PE ratio of 6.59 and a beta of 0.49. The stock has a 50 day simple moving average of $16.71 and a 200-day simple moving average of $15.17.

TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 16.75% and a return on equity of 14.49%. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, sell-side analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm 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. This represents a $0.50 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, December 6th. 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.