Allianz Asset Management GmbH Purchases 247,414 Shares of TEGNA Inc. $TGNA

Key Points

• Allianz Asset Management GmbH increased its stake in TEGNA Inc. by 88.3%, purchasing an additional 247,414 shares during the second quarter, bringing its total ownership to approximately 0.33% valued at $8,842,000.
• TEGNA reported a quarterly EPS of $0.44, exceeding analysts' expectations, though its revenue decreased by 5% year-over-year.
• The company recently announced a quarterly dividend of $0.125, resulting in an annualized yield of 2.5%, with a payout ratio of 17.99%.

Allianz Asset Management GmbH raised its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 88.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 527,566 shares of the company's stock after buying an additional 247,414 shares during the quarter. Allianz Asset Management GmbH owned about 0.33% of TEGNA worth $8,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGNA. Millennium Management LLC raised its stake in shares of TEGNA by 51.5% during the 1st quarter. Millennium Management LLC now owns 2,548,981 shares of the company's stock valued at $46,442,000 after purchasing an additional 866,970 shares during the period. Nuveen LLC bought a new stake in shares of TEGNA during the 1st quarter valued at $15,492,000. Deutsche Bank AG raised its stake in shares of TEGNA by 383.6% during the 1st 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 period. Jane Street Group LLC raised its stake in shares of TEGNA by 193.0% during the 1st quarter. Jane Street Group LLC now owns 573,255 shares of the company's stock valued at $10,445,000 after purchasing an additional 377,578 shares during the period. Finally, New Vernon Capital Holdings II LLC bought a new stake in shares of TEGNA during the 1st quarter valued at $6,029,000. 92.19% of the stock is currently owned by institutional investors.

TEGNA Price Performance

Shares of NYSE TGNA opened at $20.01 on Wednesday. The firm has a market capitalization of $3.22 billion, a P/E ratio of 7.20 and a beta of 0.25. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. The stock's 50-day simple moving average is $20.68 and its two-hundred day simple moving average is $18.07. TEGNA Inc. has a twelve month low of $14.87 and a twelve month high of $21.35.

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

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, September 5th. TEGNA's dividend payout ratio is presently 17.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of TEGNA in a research note on Wednesday, October 8th. Wells Fargo & Company reiterated an "overweight" rating and set a $22.00 price objective (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Guggenheim restated a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a research note on Friday, August 22nd. Finally, Zacks Research lowered TEGNA from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TEGNA presently has a consensus rating of "Hold" and an average target price of $19.75.

TEGNA Company 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.

Want to see what other hedge funds are holding TGNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TEGNA Inc. (NYSE:TGNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.