Invesco Ltd. Sells 171,041 Shares of TEGNA Inc. $TGNA

Key Points

• Invesco Ltd. reduced its stake in TEGNA Inc. by 19.7%, selling 171,041 shares and leaving it with 695,035 shares worth approximately $12.66 million.
• TEGNA's recent earnings report showed an EPS of $0.44, surpassing estimates, although its revenue was down 5% year-over-year.
• Analysts have set an average price target of $19.75 for TEGNA, with ratings ranging from "buy" to "neutral" from various firms.

Invesco Ltd. lowered its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 19.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 695,035 shares of the company's stock after selling 171,041 shares during the quarter. Invesco Ltd. owned approximately 0.43% of TEGNA worth $12,664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new position in TEGNA during the first quarter valued at approximately $405,000. Deutsche Bank AG boosted its stake in TEGNA by 383.6% during the first quarter. Deutsche Bank AG now owns 756,941 shares of the company's stock valued at $13,791,000 after buying an additional 600,407 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in TEGNA during the first quarter valued at approximately $692,000. PNC Financial Services Group Inc. boosted its stake in TEGNA by 15.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company's stock valued at $92,000 after buying an additional 694 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in TEGNA during the first quarter valued at approximately $5,371,000. 92.19% of the stock is owned by institutional investors.

TEGNA Trading Up 0.2%

Shares of NYSE:TGNA traded up $0.04 during trading on Friday, hitting $21.20. The company had a trading volume of 316,235 shares, compared to its average volume of 1,990,919. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 7.62 and a beta of 0.28. TEGNA Inc. has a one year low of $13.44 and a one year high of $21.35. The company has a fifty day simple moving average of $17.91 and a two-hundred day simple moving average of $17.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47.

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

TEGNA Dividend Announcement

The business also recently disclosed 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. This represents a $0.50 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. TEGNA's dividend payout ratio (DPR) is presently 17.99%.

Analyst Upgrades and Downgrades

TGNA has been the subject of a number of research reports. Benchmark dropped their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 price target (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. JPMorgan Chase & Co. dropped their price target on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Finally, Guggenheim reissued a "neutral" rating and set a $19.00 price target on shares of TEGNA in a research note on Friday, August 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company 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.