VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.35 Million Position in TEGNA Inc. $TGNA

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al has acquired a new position in TEGNA Inc., purchasing 139,919 shares valued at approximately $2.35 million during Q2, representing 0.09% of the company.
• TEGNA recently reported Q2 earnings of $0.44 per share, beating analyst estimates, but experienced a 5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.125 per share, which translates to an annualized yield of 2.5% and a payout ratio of 17.99%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 139,919 shares of the company's stock, valued at approximately $2,345,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.09% of TEGNA at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TGNA. GAMMA Investing LLC grew its stake in shares of TEGNA by 53.3% during the first 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 last quarter. TD Private Client Wealth LLC grew its stake in shares of TEGNA by 13,896.4% during the second quarter. TD Private Client Wealth LLC now owns 3,919 shares of the company's stock valued at $66,000 after purchasing an additional 3,891 shares during the last quarter. Amundi grew its stake in shares of TEGNA by 1,507.5% during the first quarter. Amundi now owns 4,067 shares of the company's stock valued at $74,000 after purchasing an additional 3,814 shares during the last quarter. Blue Trust Inc. grew its stake in shares of TEGNA by 26.0% during the first 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 last quarter. Finally, Strs Ohio bought a new stake in shares of TEGNA during the first quarter valued at approximately $86,000. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Stock Performance

NYSE TGNA opened at $20.01 on Wednesday. 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 company has a market capitalization of $3.22 billion, a P/E ratio of 7.20 and a beta of 0.25. TEGNA Inc. has a 12-month low of $14.87 and a 12-month high of $21.35. The firm has a 50-day moving average price of $20.68 and a two-hundred day moving average price of $18.07.

TEGNA (NYSE:TGNA - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The business's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. Analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, September 5th. TEGNA's dividend payout ratio is 17.99%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Guggenheim reissued a "neutral" rating and set a $19.00 price target on shares of TEGNA in a research note on Friday, August 22nd. Zacks Research cut TEGNA from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. Wells Fargo & Company reissued an "overweight" rating and issued a $22.00 target price (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of TEGNA in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, TEGNA currently has an average rating of "Hold" and an average price target 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.

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