TEGNA Inc. (NYSE:TGNA) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in TEGNA Inc. (NYSE:TGNA) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,779,273 shares of the company’s stock after acquiring an additional 53,583 shares during the period. Charles Schwab Investment Management Inc. owned 1.08% of TEGNA worth $28,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in TEGNA by 2,898.4% during the third quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company’s stock worth $170,521,000 after buying an additional 10,445,739 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of TEGNA by 179.6% in the 3rd quarter. Intech Investment Management LLC now owns 72,661 shares of the company’s stock valued at $1,147,000 after buying an additional 46,678 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of TEGNA by 194.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,262 shares of the company’s stock valued at $162,000 after buying an additional 6,782 shares during the period. Segall Bryant & Hamill LLC raised its holdings in shares of TEGNA by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 353,586 shares of the company’s stock valued at $5,580,000 after buying an additional 2,599 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of TEGNA by 217.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 129,912 shares of the company’s stock valued at $2,050,000 after buying an additional 88,932 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $18.84 on Thursday. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The business’s fifty day moving average price is $17.07 and its two-hundred day moving average price is $15.29. 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 stock has a market cap of $3.03 billion, a PE ratio of 6.66 and a beta of 0.52.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business had revenue of $806.83 million for the quarter, compared to analysts’ expectations of $795.72 million. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. On average, analysts forecast that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, December 6th. 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 dated Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at approximately $2,535,718.80. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on TGNA. StockNews.com downgraded TEGNA from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Benchmark upped their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

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.