Nuveen LLC Makes New $15.49 Million Investment 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 bought a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 850,292 shares of the company's stock, valued at approximately $15,492,000. Nuveen LLC owned 0.53% of TEGNA at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of TEGNA during the fourth quarter valued at $28,000. Tower Research Capital LLC TRC boosted 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 purchasing an additional 749 shares during the period. GAMMA Investing LLC boosted its stake 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 purchasing an additional 1,088 shares during the period. Blue Trust Inc. boosted 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 purchasing an additional 873 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 694 shares during the period. 92.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TGNA shares. Guggenheim lowered their target price on shares of TEGNA from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 target price (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. JPMorgan Chase & Co. lowered their target price on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Finally, 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 research note on Tuesday, May 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.25.

TEGNA Stock Down 0.2%

NYSE:TGNA opened at $21.0080 on Thursday. TEGNA Inc. has a 1-year low of $13.44 and a 1-year high of $21.19. The company has a 50-day moving average of $17.36 and a 200 day moving average of $17.26. The firm has a market cap of $3.38 billion, a PE ratio of 7.56 and a beta of 0.28. 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 earnings per share for the quarter, topping 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 company had revenue of $675.05 million during the quarter, compared to analyst estimates of $673.92 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The firm's revenue for the quarter was down 5.0% compared to the same quarter last year. TEGNA has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

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.

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