TEGNA Inc. $TGNA Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers has reduced its stake in TEGNA Inc. by 3.7%, selling 20,987 shares during the 1st quarter, leaving it with approximately 0.34% ownership of the company.
• During Q1, several institutional investors made significant changes to their positions in TEGNA, notably Millennium Management LLC increasing its stake by 51.5%.
• TEGNA recently announced a quarterly dividend of $0.125, which will be distributed to stockholders on October 1st, representing an annualized yield of 2.4%.

Rhumbline Advisers decreased its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 539,607 shares of the company's stock after selling 20,987 shares during the quarter. Rhumbline Advisers owned approximately 0.34% of TEGNA worth $9,832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TGNA. Millennium Management LLC increased its stake in shares of TEGNA by 51.5% during the first quarter. Millennium Management LLC now owns 2,548,981 shares of the company's stock worth $46,442,000 after buying an additional 866,970 shares during the period. Nuveen LLC acquired a new stake in shares of TEGNA in the 1st quarter valued at $15,492,000. Deutsche Bank AG lifted its position in shares of TEGNA by 383.6% during the 1st quarter. Deutsche Bank AG now owns 756,941 shares of the company's stock worth $13,791,000 after purchasing an additional 600,407 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of TEGNA during the 4th quarter worth $7,955,000. Finally, Jane Street Group LLC boosted its position in shares of TEGNA by 193.0% during the 1st quarter. Jane Street Group LLC now owns 573,255 shares of the company's stock worth $10,445,000 after acquiring an additional 377,578 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Price Performance

Shares of TGNA opened at $20.96 on Thursday. TEGNA Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $21.35. The firm has a 50-day simple moving average of $18.67 and a 200-day simple moving average of $17.56. 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 capitalization of $3.37 billion, a price-to-earnings ratio of 7.54 and a beta of 0.28.

TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.06. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business had revenue of $675.05 million for the quarter, compared to analyst estimates of $673.92 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company'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. On average, equities research analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.50 annualized dividend and a dividend yield of 2.4%. TEGNA's payout ratio is presently 17.99%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TGNA. Guggenheim reiterated a "neutral" rating and issued a $19.00 price target on shares of TEGNA in a research note on Friday, August 22nd. Wells Fargo & Company reiterated an "overweight" rating and set a $22.00 price target (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Finally, JPMorgan Chase & Co. reduced their price target 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, TEGNA presently has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.