FORA Capital LLC Buys Shares of 12,515 TEGNA Inc. $TGNA

Key Points

• FORA Capital LLC recently acquired a new stake of 12,515 shares in TEGNA Inc., worth approximately $228,000, as revealed in their 13F filing.
• TEGNA has seen multiple institutional investors increase their stakes, with PNC Financial Services increasing theirs by 15.9% to reach a total of 5,058 shares valued at $92,000.
• The firm announced a quarterly dividend of $0.125 per share, reflecting a 2.4% yield, which will be paid on October 1st to shareholders of record as of September 5th.

FORA Capital LLC purchased a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,515 shares of the company's stock, valued at approximately $228,000.

Several other hedge funds have also recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after acquiring an additional 749 shares during the period. Hsbc Holdings PLC raised its holdings in TEGNA by 122.2% in the 4th quarter. Hsbc Holdings PLC now owns 71,723 shares of the company's stock worth $1,318,000 after purchasing an additional 39,451 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of TEGNA by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 154,792 shares of the company's stock worth $2,832,000 after purchasing an additional 9,568 shares during the period. Northern Trust Corp boosted its stake in shares of TEGNA by 8.3% during the 4th quarter. Northern Trust Corp now owns 2,865,335 shares of the company's stock valued at $52,407,000 after purchasing an additional 219,706 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of TEGNA by 494.8% during the fourth quarter. Jane Street Group LLC now owns 195,677 shares of the company's stock valued at $3,579,000 after buying an additional 245,245 shares during the period. 92.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

TEGNA Stock Down 0.0%

Shares of TGNA traded down $0.01 during mid-day trading on Wednesday, reaching $21.17. The company had a trading volume of 1,340,446 shares, compared to its average volume of 1,998,354. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 7.61 and a beta of 0.28. The firm has a 50-day moving average price of $18.17 and a 200 day moving average price of $17.43. 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 announced 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. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business had revenue of $675.05 million during the quarter, compared to analysts' expectations of $673.92 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm'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, sell-side analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The company also recently disclosed 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 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%.

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.