World Investment Advisors LLC Buys Shares of 33,488 TEGNA Inc. (NYSE:TGNA)

World Investment Advisors LLC acquired a new position in TEGNA Inc. (NYSE:TGNA - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,488 shares of the company's stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Miller Howard Investments Inc. NY increased its stake in TEGNA by 1.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company's stock worth $586,000 after buying an additional 726 shares in the last quarter. US Bancorp DE boosted its holdings in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after purchasing an additional 764 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of TEGNA by 7.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company's stock valued at $284,000 after purchasing an additional 1,239 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of TEGNA by 0.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 173,408 shares of the company's stock valued at $2,417,000 after purchasing an additional 1,341 shares during the last quarter. Finally, Headlands Technologies LLC boosted 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. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com raised shares of TEGNA from a "hold" rating to a "buy" rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Finally, Benchmark increased their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, November 8th.

TEGNA Trading Down 3.3 %

Shares of NYSE:TGNA traded down $0.60 during trading on Wednesday, reaching $17.50. The company's stock had a trading volume of 1,789,351 shares, compared to its average volume of 2,168,710. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The firm's 50 day simple moving average is $17.63 and its two-hundred day simple moving average is $15.56. The stock has a market capitalization of $2.82 billion, a PE ratio of 6.18 and a beta of 0.52.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm had revenue of $806.83 million during the quarter, compared to the consensus estimate of $795.72 million. During the same quarter last year, the firm earned $0.39 EPS. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, December 6th. TEGNA's dividend payout ratio (DPR) is currently 17.67%.

Insider Buying and Selling

In other news, COO Lynn B. Trelstad sold 25,000 shares of the firm's 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 transaction, the chief operating officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

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.