Dimensional Fund Advisors LP Boosts Position in TEGNA Inc. (NYSE:TGNA)

Dimensional Fund Advisors LP boosted its position in shares of TEGNA Inc. (NYSE:TGNA) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,309,749 shares of the company’s stock after acquiring an additional 141,638 shares during the quarter. Dimensional Fund Advisors LP owned 6.08% of TEGNA worth $143,714,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in TEGNA by 5.8% during the first quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock valued at $400,371,000 after acquiring an additional 1,471,691 shares during the last quarter. LSV Asset Management raised its stake in shares of TEGNA by 29.5% in the second quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock worth $111,862,000 after buying an additional 1,827,471 shares during the period. Norges Bank bought a new position in shares of TEGNA in the fourth quarter worth about $38,009,000. Gamco Investors INC. ET AL raised its stake in shares of TEGNA by 18.7% in the first quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company’s stock worth $36,479,000 after buying an additional 384,687 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of TEGNA by 26.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,330,866 shares of the company’s stock worth $35,662,000 after buying an additional 484,658 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and issued a $21.00 price objective on shares of TEGNA in a research note on Thursday, August 8th.

TEGNA Stock Down 0.3 %

Shares of TGNA opened at $15.16 on Friday. The business’s 50 day moving average is $14.58 and its 200 day moving average is $14.33. The company has a market capitalization of $2.57 billion, a PE ratio of 5.30 and a beta of 0.49. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $16.56. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10.

TEGNA (NYSE:TGNA) last issued its earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $710.36 million for the quarter, compared to the consensus estimate of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. Research analysts expect that TEGNA Inc. will post 3.07 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Friday, September 6th. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

Insider Buying and Selling at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.88, for a total transaction of $347,000.00. Following the completion of the transaction, the chief operating officer now owns 179,617 shares in the company, valued at approximately $2,493,083.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other TEGNA news, CEO David T. Lougee sold 98,437 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the completion of the transaction, the chief executive officer now owns 594,401 shares in the company, valued at approximately $8,309,725.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the transaction, the chief operating officer now owns 179,617 shares of the company’s stock, valued at approximately $2,493,083.96. The disclosure for this sale can be found here. Insiders sold 123,467 shares of company stock worth $1,723,563 in the last quarter. 0.88% of the stock is owned by corporate insiders.

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.