Charles Schwab Investment Management Inc. Acquires 53,583 Shares of TEGNA Inc. (NYSE:TGNA)

Charles Schwab Investment Management Inc. increased its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 3.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,779,273 shares of the company's stock after purchasing an additional 53,583 shares during the period. Charles Schwab Investment Management Inc. owned about 1.08% of TEGNA worth $28,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in shares of TEGNA by 2,898.4% during the 3rd quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company's stock valued at $170,521,000 after buying an additional 10,445,739 shares during the period. LSV Asset Management boosted its stake in shares of TEGNA by 29.5% during the 2nd quarter. LSV Asset Management now owns 8,024,562 shares of the company's stock valued at $111,862,000 after buying an additional 1,827,471 shares during the period. Millennium Management LLC boosted its stake in shares of TEGNA by 395.9% during the 2nd quarter. Millennium Management LLC now owns 930,722 shares of the company's stock valued at $12,974,000 after buying an additional 743,052 shares during the period. Empowered Funds LLC boosted its stake in shares of TEGNA by 757.4% during the 3rd quarter. Empowered Funds LLC now owns 662,417 shares of the company's stock valued at $10,453,000 after buying an additional 585,156 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of TEGNA by 132.9% during the 2nd quarter. Squarepoint Ops LLC now owns 916,760 shares of the company's stock valued at $12,780,000 after buying an additional 523,120 shares during the period. Institutional investors and hedge funds own 92.19% of the company's stock.

Insider Buying and Selling

In other news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.88, for a total transaction of $347,000.00. Following the transaction, the chief operating officer now owns 179,617 shares in the company, valued at approximately $2,493,083.96. The trade was a 12.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.88% of the company's stock.

TEGNA Stock Down 0.7 %

Shares of TGNA stock traded down $0.12 on Thursday, hitting $18.71. The company's stock had a trading volume of 925,548 shares, compared to its average volume of 2,202,990. 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 Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The firm's fifty day moving average price is $17.07 and its 200-day moving average price is $15.29. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 6.61 and a beta of 0.52.

TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping 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 net margin of 16.75% and a return on equity of 14.49%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The company also recently announced 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 of this dividend 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%.

Wall Street Analyst Weigh In

TGNA has been the subject of a number of research reports. Benchmark lifted their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective 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. Finally, StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Saturday, November 23rd.

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.