AlphaQuest LLC Invests $383,000 in TEGNA Inc. $TGNA

Key Points

• AlphaQuest LLC acquired 21,003 shares of TEGNA Inc. valued at approximately $383,000.
• TEGNA reported an EPS of $0.44 for the last quarter, exceeding estimates and showing a revenue of $675.05 million.
• The company declared a quarterly dividend of $0.125 per share, which represents a 2.4% dividend yield.

AlphaQuest LLC acquired a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,003 shares of the company's stock, valued at approximately $383,000.

A number of other large investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in TEGNA during the first quarter valued at approximately $15,492,000. Deutsche Bank AG lifted its position in TEGNA by 383.6% during the first quarter. Deutsche Bank AG now owns 756,941 shares of the company's stock valued at $13,791,000 after purchasing an additional 600,407 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in TEGNA during the fourth quarter valued at approximately $7,955,000. Voloridge Investment Management LLC bought a new stake in TEGNA during the fourth quarter valued at approximately $5,434,000. Finally, Jupiter Asset Management Ltd. bought a new stake in TEGNA during the first quarter valued at approximately $5,371,000. 92.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on TGNA shares. Guggenheim reissued a "neutral" rating and set a $19.00 price target on shares of TEGNA in a research note on Friday, August 22nd. JPMorgan Chase & Co. decreased their price target on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 price target (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Finally, Benchmark decreased their target price on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.75.

TEGNA Trading Up 0.1%

TEGNA stock traded up $0.03 during mid-day trading on Monday, reaching $21.19. 1,909,739 shares of the company traded hands, compared to its average volume of 5,491,069. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47. The firm's 50 day moving average price is $18.00 and its 200 day moving average price is $17.39. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 7.62 and a beta of 0.28. TEGNA Inc. has a 52-week low of $13.44 and a 52-week high of $21.35.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.06. The business had revenue of $675.05 million for the quarter, compared to the consensus estimate of $673.92 million. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The company's quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. On average, analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. TEGNA's dividend payout ratio is currently 17.99%.

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.