TEGNA Inc. $TGNA Shares Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its stake in TEGNA Inc. by 26.3%, now holding approximately 785,852 shares valued at $14.3 million.
• TEGNA reported Q2 earnings per share of $0.44, exceeding estimates of $0.38, along with a revenue of $675.05 million, down 5.0% year-over-year.
• The company announced a quarterly dividend of $0.125 per share, providing an annualized yield of 2.4%, with a payout ratio of 17.99%.

Empowered Funds LLC increased its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 26.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 785,852 shares of the company's stock after acquiring an additional 163,490 shares during the quarter. Empowered Funds LLC owned approximately 0.49% of TEGNA worth $14,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in TEGNA in the 4th quarter valued at $28,000. Tower Research Capital LLC TRC grew its position in TEGNA by 80.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after buying an additional 749 shares during the last quarter. GAMMA Investing LLC grew its position in TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after buying an additional 1,088 shares during the last quarter. Amundi grew its position in TEGNA by 1,507.5% in the 1st quarter. Amundi now owns 4,067 shares of the company's stock valued at $74,000 after buying an additional 3,814 shares during the last quarter. Finally, Blue Trust Inc. grew its position in TEGNA by 26.0% in the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock valued at $77,000 after buying an additional 873 shares during the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TGNA. Guggenheim reiterated a "neutral" rating and issued a $19.00 price objective on shares of TEGNA in a research report on Friday, August 22nd. Wells Fargo & Company restated an "overweight" rating and set a $22.00 target price (up from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, TEGNA presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

TEGNA Trading Up 0.2%

Shares of NYSE TGNA traded up $0.04 on Friday, reaching $21.05. 4,084,608 shares of the company traded hands, compared to its average volume of 4,612,165. TEGNA Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $21.35. The company has a 50 day moving average of $18.82 and a 200 day moving average of $17.62. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $3.39 billion, a PE ratio of 7.57 and a beta of 0.28.

TEGNA (NYSE:TGNA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The company had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same quarter in the prior year, the company posted $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. On average, equities research analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis 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%.

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.