Nuveen LLC Acquires New Holdings in TEGNA Inc. $TGNA

Key Points

• Nuveen LLC has made a significant investment of $15.49 million in TEGNA Inc., acquiring 850,292 shares during the first quarter, increasing its ownership to 0.53%.
• Recent analyst reports show a mix of price target adjustments for TEGNA, with Guggenheim lowering its target from $22.00 to $21.00 while Wells Fargo raised its target to $22.00, reflecting a consensus "Moderate Buy" rating.
• TEGNA reported $0.44 earnings per share for the last quarter, exceeding estimates, although revenue decreased by 5.0% from the previous year.

Nuveen LLC acquired a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 850,292 shares of the company's stock, valued at approximately $15,492,000. Nuveen LLC owned 0.53% of TEGNA as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Deutsche Bank AG boosted its holdings in shares of TEGNA by 383.6% in the first quarter. Deutsche Bank AG now owns 756,941 shares of the company's stock valued at $13,791,000 after acquiring an additional 600,407 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of TEGNA in the fourth quarter valued at approximately $7,955,000. Voloridge Investment Management LLC acquired a new stake in shares of TEGNA in the fourth quarter valued at approximately $5,434,000. Jupiter Asset Management Ltd. acquired a new stake in shares of TEGNA in the first quarter valued at approximately $5,371,000. Finally, Jane Street Group LLC lifted its stake 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 currently owned by institutional investors and hedge funds.

TEGNA Trading Down 1.0%

Shares of TEGNA stock traded down $0.22 during trading hours on Tuesday, hitting $21.07. The company's stock had a trading volume of 4,126,283 shares, compared to its average volume of 5,229,169. TEGNA Inc. has a 1-year low of $13.44 and a 1-year high of $21.35. The business has a fifty day moving average of $17.72 and a 200 day moving average of $17.33. The company has a market capitalization of $3.39 billion, a PE ratio of 7.58 and a beta of 0.28. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82.

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

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. TEGNA's dividend payout ratio (DPR) is 17.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Benchmark reduced their price objective on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Guggenheim reissued a "neutral" rating and set a $19.00 price objective on shares of TEGNA in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock 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.