AQR Capital Management LLC Decreases Holdings in TEGNA Inc. $TGNA

Key Points

• AQR Capital Management LLC has decreased its stake in TEGNA Inc. by 32.8%, now holding about 0.58% of the company valued at approximately $16.86 million.
• TEGNA's most recent earnings report showed an EPS of $0.44, surpassing the consensus estimate of $0.38, although revenue declined by 5.0% year-over-year.
• The company declared a quarterly dividend of $0.125 per share, yielding 2.4%, with the ex-dividend date on September 5th.

AQR Capital Management LLC lessened its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 32.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 931,973 shares of the company's stock after selling 454,041 shares during the quarter. AQR Capital Management LLC owned about 0.58% of TEGNA worth $16,859,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in TGNA. PNC Financial Services Group Inc. raised its stake in shares of TEGNA by 15.9% in the 1st 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. Tower Research Capital LLC TRC raised its stake in shares of TEGNA by 80.2% in the 4th 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. Blue Trust Inc. raised 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 valued at $77,000 after purchasing an additional 873 shares during the period. GAMMA Investing LLC raised its stake in shares of TEGNA by 53.3% in the 1st 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. Finally, Integrated Advisors Network LLC increased its position in shares of TEGNA by 7.9% in the fourth quarter. Integrated Advisors Network LLC now owns 16,040 shares of the company's stock valued at $293,000 after acquiring an additional 1,171 shares during the last quarter. Institutional investors own 92.19% of the company's stock.

TEGNA Trading Up 0.2%

TGNA traded up $0.04 during trading on Friday, reaching $21.05. 4,084,608 shares of the stock traded hands, compared to its average volume of 4,610,110. The stock has a market capitalization of $3.39 billion, a PE ratio of 7.57 and a beta of 0.28. The stock's 50-day moving average is $18.82 and its 200 day moving average is $17.62. 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 Inc. has a 12 month low of $14.03 and a 12 month high of $21.35.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly 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 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 firm's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. Equities analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, September 5th. TEGNA's payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TGNA. JPMorgan Chase & Co. lowered their price target on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Guggenheim restated a "neutral" rating and set a $19.00 price objective on shares of TEGNA in a report on Friday, August 22nd. Finally, Wells Fargo & Company restated an "overweight" rating and set a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, TEGNA has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

About TEGNA

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.