Charles Schwab Investment Management Inc. Acquires 93,894 Shares of TEGNA Inc. (NYSE:TGNA)

Charles Schwab Investment Management Inc. increased its holdings in TEGNA Inc. (NYSE:TGNA) by 5.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,873,167 shares of the company’s stock after buying an additional 93,894 shares during the period. Charles Schwab Investment Management Inc.’s holdings in TEGNA were worth $34,260,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TGNA. US Bancorp DE boosted its position in 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 acquiring an additional 764 shares in the last quarter. Principal Financial Group Inc. boosted its position in TEGNA by 26.2% during the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock valued at $14,068,000 after acquiring an additional 184,845 shares in the last quarter. CIBC Asset Management Inc bought a new stake in TEGNA during the 3rd quarter valued at approximately $260,000. Thrivent Financial for Lutherans boosted its position in TEGNA by 217.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 129,912 shares of the company’s stock valued at $2,050,000 after acquiring an additional 88,932 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in TEGNA by 0.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 353,586 shares of the company’s stock valued at $5,580,000 after acquiring an additional 2,599 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TGNA has been the topic of several research reports. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Guggenheim reiterated a “buy” rating and set a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

TEGNA Price Performance

TGNA stock opened at $17.65 on Monday. The firm has a 50 day moving average price of $17.98 and a 200-day moving average price of $17.22. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 6.24 and a beta of 0.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.83%. TEGNA’s payout ratio is currently 14.12%.

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.