Dean Capital Management Decreases Stock Position in TEGNA Inc. $TGNA

Key Points

• Dean Capital Management has reduced its stake in TEGNA Inc. by 30.6%, now owning 86,349 shares after selling 38,007 shares in the first quarter.
• TEGNA announced a quarterly dividend of $0.125 per share, with a yield of 2.4%, to be paid on October 1st.
• Analysts have set diverse price targets for TEGNA, with Guggenheim and Wells Fargo maintaining a "neutral" and "overweight" rating, respectively, and a consensus price target of $19.75.

Dean Capital Management decreased its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 30.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,349 shares of the company's stock after selling 38,007 shares during the period. Dean Capital Management owned 0.05% of TEGNA worth $1,573,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LSV Asset Management increased its position in TEGNA by 0.4% during the first quarter. LSV Asset Management now owns 7,828,750 shares of the company's stock worth $142,640,000 after purchasing an additional 32,121 shares during the last quarter. Millennium Management LLC increased its position in TEGNA by 51.5% during the first quarter. Millennium Management LLC now owns 2,548,981 shares of the company's stock worth $46,442,000 after purchasing an additional 866,970 shares during the last quarter. Bridgeway Capital Management LLC increased its position in TEGNA by 10.1% during the first quarter. Bridgeway Capital Management LLC now owns 1,358,042 shares of the company's stock worth $24,744,000 after purchasing an additional 124,713 shares during the last quarter. Principal Financial Group Inc. increased its position in TEGNA by 2.5% during the first quarter. Principal Financial Group Inc. now owns 934,711 shares of the company's stock worth $17,030,000 after purchasing an additional 23,094 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in TEGNA by 1.1% during the first quarter. Victory Capital Management Inc. now owns 918,416 shares of the company's stock worth $16,734,000 after purchasing an additional 10,249 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Guggenheim reaffirmed a "neutral" rating and set a $19.00 price target on shares of TEGNA in a research report on Friday, August 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $22.00 price target (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TEGNA has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

TEGNA Trading Up 0.2%

Shares of TEGNA stock traded up $0.04 during trading hours on Friday, hitting $21.05. The company's stock had a trading volume of 4,084,608 shares, compared to its average volume of 4,612,165. TEGNA Inc. has a 1-year low of $14.03 and a 1-year high of $21.35. The business has a fifty day moving average of $18.82 and a 200 day moving average of $17.62. The company has a market capitalization of $3.39 billion, a PE ratio of 7.57 and a beta of 0.28. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82.

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

TEGNA Announces Dividend

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

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.