Invesco Ltd. Reduces Stock Position in 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% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 695,035 shares of the company's stock after selling 171,041 shares during the period. Invesco Ltd. owned about 0.43% of TEGNA worth $12,664,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in TEGNA by 15.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company's stock valued at $92,000 after purchasing an additional 694 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of TEGNA by 80.2% during the fourth 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 period. Blue Trust Inc. increased its stake in shares of TEGNA by 26.0% during the first 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 period. GAMMA Investing LLC raised its holdings in shares of TEGNA by 53.3% during the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its stake in TEGNA by 7.9% in the fourth quarter. Integrated Advisors Network LLC now owns 16,040 shares of the company's stock worth $293,000 after acquiring an additional 1,171 shares during the period. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Up 0.1%

TEGNA stock traded up $0.03 during mid-day trading on Friday, hitting $21.19. The company had a trading volume of 1,909,739 shares, compared to its average volume of 5,473,517. TEGNA Inc. has a 12 month low of $13.44 and a 12 month high of $21.35. 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's 50 day moving average price is $18.00 and its two-hundred day moving average price is $17.40. The company has a market capitalization of $3.41 billion, a PE ratio of 7.62 and a beta of 0.28.

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

TEGNA Dividend Announcement

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

Analyst Ratings Changes

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