Algert Global LLC Has $1.95 Million Stake in TEGNA Inc. $TGNA

Key Points

• Algert Global LLC raised its position in TEGNA Inc. by 26.4% during the first quarter, acquiring an additional 22,310 shares, bringing their total holdings to approximately 106,830 shares worth about $1.95 million.
• Other institutional investors also increased their stakes, with Public Sector Pension Investment Board raising its stake by 48.7%, and Deutsche Bank AG increasing its holdings by a remarkable 383.6%.
• TEGNA recently reported $0.44 earnings per share for the last quarter, exceeding analysts' expectations, but noted a 5% decline in revenue compared to the previous year.

Algert Global LLC lifted its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 26.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,830 shares of the company's stock after acquiring an additional 22,310 shares during the quarter. Algert Global LLC owned approximately 0.07% of TEGNA worth $1,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Fox Run Management L.L.C. acquired a new position in shares of TEGNA in the first quarter worth $650,000. Neuberger Berman Group LLC increased its stake in shares of TEGNA by 9.3% in the first quarter. Neuberger Berman Group LLC now owns 23,320 shares of the company's stock worth $425,000 after acquiring an additional 1,986 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in TEGNA by 7.2% in the first quarter. Russell Investments Group Ltd. now owns 137,639 shares of the company's stock worth $2,507,000 after purchasing an additional 9,274 shares in the last quarter. HighTower Advisors LLC boosted its holdings in TEGNA by 6.8% in the first quarter. HighTower Advisors LLC now owns 80,984 shares of the company's stock worth $1,476,000 after purchasing an additional 5,150 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in TEGNA by 48.7% in the first quarter. Public Sector Pension Investment Board now owns 596,868 shares of the company's stock worth $10,875,000 after purchasing an additional 195,396 shares in the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Performance

Shares of NYSE TGNA traded up $0.05 during mid-day trading on Wednesday, hitting $21.10. The company had a trading volume of 2,808,150 shares, compared to its average volume of 5,374,168. 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 business's 50-day simple moving average is $17.81 and its 200-day simple moving average is $17.36. TEGNA Inc. has a 12 month low of $13.44 and a 12 month high of $21.35. The firm has a market cap of $3.39 billion, a P/E ratio of 7.59 and a beta of 0.28.

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

TEGNA Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on TGNA. Guggenheim reiterated a "neutral" rating and issued a $19.00 price objective on shares of TEGNA in a report 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 for the company in a report on Wednesday, May 21st. Wells Fargo & Company restated an "overweight" rating and set a $22.00 price target (up from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Finally, Benchmark decreased their price target on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

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.