New Vernon Capital Holdings II LLC Acquires New Shares in TEGNA Inc. $TGNA

Key Points

• New Vernon Capital Holdings II LLC has acquired a new stake in TEGNA Inc., purchasing 330,912 shares valued at approximately $6.03 million, which represents about 0.21% of the company.
• TEGNA's most recent earnings report showed an Earnings Per Share (EPS) of $0.44, exceeding estimates, although revenue declined by 5% year-over-year.
• The company announced a quarterly dividend of $0.125 per share, with a yield of 2.4%, set to be paid on October 1st, targeting investors focused on dividend income.

New Vernon Capital Holdings II LLC bought a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 330,912 shares of the company's stock, valued at approximately $6,029,000. New Vernon Capital Holdings II LLC owned approximately 0.21% of TEGNA as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TGNA. Neo Ivy Capital Management acquired a new position in shares of TEGNA in the 4th quarter worth approximately $28,000. Tower Research Capital LLC TRC boosted its holdings in shares of TEGNA by 80.2% in the 4th 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 in the last quarter. GAMMA Investing LLC boosted its holdings in shares of TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after acquiring an additional 1,088 shares in the last quarter. Amundi boosted its holdings in shares of TEGNA by 1,507.5% in the 1st quarter. Amundi now owns 4,067 shares of the company's stock worth $74,000 after acquiring an additional 3,814 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of TEGNA by 26.0% in the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock worth $77,000 after acquiring an additional 873 shares in the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Trading Down 0.2%

Shares of TEGNA stock traded down $0.04 on Tuesday, hitting $20.97. 2,125,414 shares of the company's stock traded hands, compared to its average volume of 2,026,147. The firm's 50-day moving average price is $18.51 and its two-hundred day moving average price is $17.52. The stock has a market capitalization of $3.37 billion, a PE ratio of 7.54 and a beta of 0.28. TEGNA Inc. has a one year low of $13.60 and a one year high of $21.35. 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 released 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 business had revenue of $675.05 million during the quarter, compared to analysts' expectations of $673.92 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm's quarterly revenue was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. On average, research analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal 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 $0.125 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. TEGNA's dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

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

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.