TEGNA Inc. $TGNA Shares Acquired by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC boosted its stake in TEGNA Inc. by 51.6%, owning 93,652 shares valued at $1.7 million as of its latest SEC filing.
• TEGNA reported $0.44 earnings per share, exceeding estimates, although revenue declined by 5.0% year-over-year, totaling $675.05 million.
• The company declared a quarterly dividend of $0.125 per share, resulting in an annualized yield of 2.4%.

Kestra Investment Management LLC increased its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 51.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,652 shares of the company's stock after buying an additional 31,857 shares during the quarter. Kestra Investment Management LLC owned about 0.06% of TEGNA worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TGNA. Tower Research Capital LLC TRC boosted its position in shares of TEGNA by 80.2% in the fourth 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 during the last quarter. Jane Street Group LLC boosted its holdings in shares of TEGNA by 494.8% in the 4th quarter. Jane Street Group LLC now owns 195,677 shares of the company's stock valued at $3,579,000 after purchasing an additional 245,245 shares during the last quarter. Algert Global LLC boosted its holdings in shares of TEGNA by 22.3% in the 4th quarter. Algert Global LLC now owns 84,520 shares of the company's stock valued at $1,546,000 after purchasing an additional 15,388 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of TEGNA by 27.4% during the 4th quarter. BNP Paribas Financial Markets now owns 49,738 shares of the company's stock valued at $910,000 after buying an additional 10,700 shares during the period. Finally, Balyasny Asset Management L.P. increased its holdings in shares of TEGNA by 558.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 222,477 shares of the company's stock worth $4,069,000 after buying an additional 188,695 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

Wall Street Analyst Weigh In

TGNA has been the topic of a number of research analyst reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $22.00 target price (up previously from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Guggenheim reaffirmed a "neutral" rating and issued a $19.00 price objective on shares of TEGNA in a research note on Friday, August 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.75.

TEGNA Stock Down 0.1%

TGNA traded down $0.01 during trading hours on Wednesday, reaching $20.96. 2,194,759 shares of the stock traded hands, compared to its average volume of 2,026,410. TEGNA Inc. has a fifty-two week low of $13.60 and a fifty-two week 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. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 7.54 and a beta of 0.28. The firm's fifty day simple moving average is $18.67 and its two-hundred day simple moving average is $17.56.

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. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The company had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same period last year, the firm earned $0.50 earnings per share. The company's revenue was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. As a group, analysts forecast 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. Shareholders of record on Friday, September 5th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, September 5th. This represents a $0.50 annualized dividend and a yield of 2.4%. TEGNA's payout ratio is currently 17.99%.

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.