TEGNA Inc. $TGNA Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in TEGNA Inc. by 1.5%, now owning approximately 1.15% of the company, which is valued at $33.6 million.
• Recent research reports have resulted in varying target price adjustments for TEGNA, with Benchmark lowering it to $20.00 while Wells Fargo raised it to $22.00.
• TEGNA reported earnings per share (EPS) of $0.44 for the last quarter, exceeding estimates, despite a 5% decline in revenue year-over-year.

Charles Schwab Investment Management Inc. reduced its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,846,004 shares of the company's stock after selling 27,163 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.15% of TEGNA worth $33,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LSV Asset Management grew its position in TEGNA by 0.4% during the 1st quarter. LSV Asset Management now owns 7,828,750 shares of the company's stock worth $142,640,000 after purchasing an additional 32,121 shares during the period. Northern Trust Corp boosted its stake in shares of TEGNA by 8.3% during the 4th quarter. Northern Trust Corp now owns 2,865,335 shares of the company's stock worth $52,407,000 after acquiring an additional 219,706 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of TEGNA by 7.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,233,329 shares of the company's stock worth $22,558,000 after acquiring an additional 85,113 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of TEGNA by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 934,711 shares of the company's stock worth $17,030,000 after acquiring an additional 23,094 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of TEGNA by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 918,416 shares of the company's stock worth $16,734,000 after acquiring an additional 10,249 shares in the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Price Performance

TGNA traded down $0.0420 during trading on Wednesday, reaching $21.0080. The company's stock had a trading volume of 10,310,025 shares, compared to its average volume of 4,265,813. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $17.36 and a two-hundred day simple moving average of $17.26. TEGNA Inc. has a 1 year low of $13.44 and a 1 year high of $21.19. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 7.11 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 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 business had revenue of $675.05 million for the quarter, compared to analyst estimates of $673.92 million. During the same period last year, the company posted $0.50 EPS. The business'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 anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

Analyst Ratings Changes

Several equities research 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 on the stock 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 on the stock in a research note on Wednesday, May 21st. Finally, Benchmark lowered their target price on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

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.