TEGNA Inc. $TGNA Position Raised by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its position in TEGNA Inc. by 30.5%, now owning approximately 163,046 shares valued at $2.73 million.
• TEGNA reported $0.44 EPS in its latest quarter, exceeding the consensus estimate of $0.38, despite a 5% decline in quarterly revenue year-over-year.
• A recent dividend of $0.125 per share has been announced, representing a 2.4% yield and a payout ratio of 17.99%.

Assenagon Asset Management S.A. boosted its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 30.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 163,046 shares of the company's stock after purchasing an additional 38,064 shares during the period. Assenagon Asset Management S.A. owned approximately 0.10% of TEGNA worth $2,733,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in 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 buying an additional 1,088 shares in the last quarter. Amundi boosted its position in shares of TEGNA by 1,507.5% during the 1st quarter. Amundi now owns 4,067 shares of the company's stock valued at $74,000 after purchasing an additional 3,814 shares in the last quarter. Blue Trust Inc. grew its stake 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 purchasing an additional 873 shares during the last quarter. Strs Ohio bought a new stake in shares of TEGNA in the 1st quarter worth approximately $86,000. Finally, PNC Financial Services Group Inc. lifted 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 purchasing an additional 694 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Stock Down 1.3%

Shares of NYSE:TGNA opened at $20.50 on Friday. The firm has a 50 day simple moving average of $19.51 and a 200 day simple moving average of $17.82. TEGNA Inc. has a 52 week low of $14.87 and a 52 week high of $21.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $3.30 billion, a PE ratio of 7.37 and a beta of 0.28.

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

TEGNA Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. TEGNA's payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TGNA shares. Wells Fargo & Company restated an "overweight" rating and issued a $22.00 price target (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Guggenheim restated a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, TEGNA presently has a consensus rating of "Moderate Buy" and an average price target 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.

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