Teza Capital Management LLC Sells 27,519 Shares of TEGNA Inc. $TGNA

Key Points

• Teza Capital Management LLC reduced its position in TEGNA Inc. by 33%, now holding 55,801 shares valued at approximately $1.02 million.
• Institutional investors control over 92.19% of TEGNA's shares, with recent notable increases from Tower Research Capital LLC and Balyasny Asset Management L.P.
• TEGNA recently announced a quarterly dividend of $0.125 per share, translating to a 2.4% annualized yield for shareholders.

Teza Capital Management LLC reduced its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 33.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,801 shares of the company's stock after selling 27,519 shares during the quarter. Teza Capital Management LLC's holdings in TEGNA were worth $1,017,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TGNA. New Vernon Capital Holdings II LLC bought a new stake in TEGNA during the first quarter valued at $6,029,000. Millennium Management LLC lifted its stake in shares of TEGNA by 51.5% in the 1st quarter. Millennium Management LLC now owns 2,548,981 shares of the company's stock valued at $46,442,000 after purchasing an additional 866,970 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TEGNA by 1.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,968 shares of the company's stock valued at $1,749,000 after purchasing an additional 1,726 shares in the last quarter. Hancock Whitney Corp grew its stake in TEGNA by 1.6% during the first quarter. Hancock Whitney Corp now owns 91,104 shares of the company's stock worth $1,660,000 after purchasing an additional 1,416 shares during the period. Finally, Cinctive Capital Management LP bought a new stake in TEGNA in the first quarter worth approximately $972,000. Institutional investors own 92.19% of the company's stock.

TEGNA Stock Down 0.1%

Shares of NYSE:TGNA traded down $0.01 during trading on Wednesday, reaching $20.96. 2,194,759 shares of the stock were exchanged, compared to its average volume of 2,026,410. TEGNA Inc. has a 1-year low of $13.60 and a 1-year high of $21.35. The stock has a fifty day moving average of $18.59 and a two-hundred day moving average of $17.54. 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 firm has a market cap 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 announced its quarterly earnings results on Thursday, August 7th. The company reported $0.44 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $673.92 million. During the same quarter in the previous year, the business posted $0.50 EPS. TEGNA's quarterly revenue was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. Research analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on TGNA. JPMorgan Chase & Co. reduced their price objective 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. 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. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $19.00 price target on shares of TEGNA in a research note on Friday, August 22nd. Two equities research 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, the stock presently has an average rating of "Moderate Buy" and an average price target 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.