Truist Financial Corp Sells 962 Shares of TEGNA Inc. $TGNA

Truist Financial Corp lessened its stake in TEGNA Inc. (NYSE:TGNA) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,515 shares of the company’s stock after selling 962 shares during the quarter. Truist Financial Corp’s holdings in TEGNA were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company’s stock worth $57,000 after purchasing an additional 1,088 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of TEGNA by 13,896.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 3,919 shares of the company’s stock worth $66,000 after purchasing an additional 3,891 shares during the last quarter. Amundi raised its position in shares of TEGNA by 1,507.5% in the 1st quarter. Amundi now owns 4,067 shares of the company’s stock worth $74,000 after purchasing an additional 3,814 shares during the last quarter. Blue Trust Inc. raised its position in shares of TEGNA by 26.0% in the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company’s stock worth $77,000 after purchasing an additional 873 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of TEGNA in the 1st quarter worth about $86,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TGNA shares. Guggenheim reaffirmed a “neutral” rating and issued a $19.00 price target on shares of TEGNA in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TEGNA in a research report on Wednesday, October 8th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $22.00 price target (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Finally, Zacks Research lowered TEGNA from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.75.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $19.78 on Friday. TEGNA Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $21.35. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 7.12 and a beta of 0.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The business has a 50-day simple moving average of $20.59 and a two-hundred day simple moving average of $18.02.

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

TEGNA Dividend Announcement

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