Jennison Associates LLC Buys 5,085 Shares of TEGNA Inc. $TGNA

Jennison Associates LLC boosted its stake in TEGNA Inc. (NYSE:TGNA) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,061 shares of the company’s stock after acquiring an additional 5,085 shares during the quarter. Jennison Associates LLC’s holdings in TEGNA were worth $1,359,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TGNA. GAMMA Investing LLC lifted its position in 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 acquiring an additional 1,088 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in TEGNA by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,376 shares of the company’s stock valued at $341,000 after acquiring an additional 6,433 shares in the last quarter. Principal Financial Group Inc. lifted its position in TEGNA by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 934,711 shares of the company’s stock valued at $17,030,000 after acquiring an additional 23,094 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in TEGNA by 4.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 178,728 shares of the company’s stock valued at $3,256,000 after acquiring an additional 7,226 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in TEGNA by 7.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 563,207 shares of the company’s stock valued at $10,262,000 after acquiring an additional 40,987 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Zacks Research cut shares of TEGNA from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Wells Fargo & Company cut shares of TEGNA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of TEGNA in a research report on Wednesday, October 8th. Finally, Guggenheim reissued a “neutral” rating and set a $19.00 price target on shares of TEGNA in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TEGNA has a consensus rating of “Hold” and an average target price of $19.75.

TEGNA Stock Up 0.4%

TEGNA stock opened at $19.70 on Friday. The firm has a market capitalization of $3.17 billion, a PE ratio of 7.08 and a beta of 0.25. The company’s 50-day moving average is $20.51 and its 200-day moving average is $18.30. TEGNA Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $21.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. The company had revenue of $675.05 million for the quarter, compared to analyst estimates of $673.92 million. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. TEGNA’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. Sell-side analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

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

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.