Intech Investment Management LLC Acquires 46,678 Shares of TEGNA Inc. (NYSE:TGNA)

Intech Investment Management LLC increased its holdings in TEGNA Inc. (NYSE:TGNA) by 179.6% in the third quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Russell Investments Group Ltd. increased its position in shares of TEGNA by 52.6% during the first quarter. Russell Investments Group Ltd. now owns 43,031 shares of the company’s stock worth $643,000 after purchasing an additional 14,838 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of TEGNA by 0.9% during 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 in the last quarter. Quadrature Capital Ltd acquired a new position in shares of TEGNA during the first quarter worth $190,000. Price T Rowe Associates Inc. MD increased its position in shares of TEGNA by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 147,121 shares of the company’s stock worth $2,198,000 after purchasing an additional 6,749 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of TEGNA during the first quarter worth $155,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Price Performance

NYSE:TGNA opened at $18.65 on Thursday. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. 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 firm has a market cap of $3.00 billion, a price-to-earnings ratio of 6.68 and a beta of 0.49. The firm’s fifty day moving average is $16.64 and its two-hundred day moving average is $15.15.

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

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, December 6th. TEGNA’s payout ratio is currently 17.67%.

Insider Transactions at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction dated Friday, October 25th. The shares were 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 $2,535,718.80. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Benchmark boosted 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. JPMorgan Chase & Co. boosted 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, StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a report 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.