Hancock Whitney Corp Has $523,000 Holdings in TEGNA Inc. (NYSE:TGNA)

Hancock Whitney Corp raised its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 10.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,168 shares of the company’s stock after acquiring an additional 3,079 shares during the quarter. Hancock Whitney Corp’s holdings in TEGNA were worth $523,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TGNA. Harbor Capital Advisors Inc. purchased a new position in TEGNA during the third quarter valued at approximately $28,000. Headlands Technologies LLC grew its holdings in shares of TEGNA by 48.2% during the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock valued at $63,000 after acquiring an additional 1,470 shares in the last quarter. CWM LLC increased its stake in shares of TEGNA by 146.3% in the second quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after acquiring an additional 2,741 shares during the last quarter. Blue Trust Inc. increased its stake in shares of TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock worth $70,000 after acquiring an additional 3,350 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of TEGNA by 20.4% during the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after acquiring an additional 764 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Insider Buying and Selling at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the sale, the chief operating officer now owns 154,617 shares in the company, valued at approximately $2,535,718.80. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

TEGNA Stock Performance

Shares of NYSE TGNA opened at $18.91 on Wednesday. The business’s 50-day simple moving average is $16.55 and its 200-day simple moving average is $15.12. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 6.68 and a beta of 0.49.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, equities research analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, December 6th. TEGNA’s dividend payout ratio is 17.67%.

Analyst Ratings Changes

TGNA has been the topic of a number of recent research reports. Benchmark boosted their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday.

TEGNA 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.