TEGNA Inc. (TGNA) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in TEGNA Inc. (NYSE:TGNA) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,895,440 shares of the company’s stock after buying an additional 445,062 shares during the period. Dimensional Fund Advisors LP owned 2.27% of TEGNA worth $53,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGNA. First Quadrant L P CA bought a new position in TEGNA in the 4th quarter valued at about $77,000. Oregon Public Employees Retirement Fund lifted its position in TEGNA by 987.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 927,070 shares of the company’s stock valued at $85,000 after acquiring an additional 841,783 shares in the last quarter. First Hawaiian Bank lifted its position in TEGNA by 354.3% in the 4th quarter. First Hawaiian Bank now owns 8,772 shares of the company’s stock valued at $95,000 after acquiring an additional 6,841 shares in the last quarter. People s United Financial Inc. bought a new position in TEGNA in the 3rd quarter valued at about $124,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in TEGNA in the 4th quarter valued at about $131,000. 95.86% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Neal Shapiro sold 27,613 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $14.72, for a total transaction of $406,463.36. Following the completion of the sale, the director now owns 17,478 shares in the company, valued at approximately $257,276.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Several brokerages recently weighed in on TGNA. Evercore ISI raised shares of TEGNA from an “in-line” rating to an “outperform” rating in a research report on Monday, March 25th. ValuEngine raised shares of TEGNA from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 28th. Zacks Investment Research cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, January 5th. Barrington Research reissued a “buy” rating and set a $17.00 target price on shares of TEGNA in a research report on Friday, March 1st. Finally, Noble Financial reissued a “buy” rating and set a $14.50 target price on shares of TEGNA in a research report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.15.

Shares of TEGNA stock traded down $0.17 during mid-day trading on Friday, hitting $16.22. 2,490,270 shares of the stock were exchanged, compared to its average volume of 2,768,290. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.20. TEGNA Inc. has a 12 month low of $10.00 and a 12 month high of $16.57. The stock has a market cap of $3.51 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.24 and a beta of 1.56.

TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Friday, March 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.07. TEGNA had a net margin of 18.18% and a return on equity of 33.72%. The company had revenue of $642.10 million during the quarter, compared to analyst estimates of $628.71 million. During the same quarter last year, the business posted $0.32 EPS. TEGNA’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, equities analysts anticipate that TEGNA Inc. will post 1.31 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.73%. TEGNA’s payout ratio is currently 15.30%.

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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.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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