Hancock Whitney Corp Trims Stake in TEGNA Inc. (NYSE:TGNA)

Hancock Whitney Corp trimmed its position in TEGNA Inc. (NYSE:TGNA) by 14.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,089 shares of the company’s stock after selling 4,942 shares during the quarter. Hancock Whitney Corp’s holdings in TEGNA were worth $419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGNA. Parallel Advisors LLC lifted its stake in TEGNA by 142.1% in the fourth quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock worth $26,000 after acquiring an additional 983 shares during the period. CWM LLC lifted its position in shares of TEGNA by 389.0% in the 1st quarter. CWM LLC now owns 1,873 shares of the company’s stock worth $28,000 after purchasing an additional 1,490 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of TEGNA in the 1st quarter worth approximately $28,000. Headlands Technologies LLC bought a new position in shares of TEGNA during the first quarter valued at approximately $46,000. Finally, Blue Trust Inc. increased its holdings in TEGNA by 247.8% during the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after buying an additional 3,350 shares during the period. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Performance

TGNA stock opened at $14.79 on Tuesday. TEGNA Inc. has a one year low of $12.35 and a one year high of $16.56. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 5.17 and a beta of 0.49. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a 50-day simple moving average of $14.57 and a two-hundred day simple moving average of $14.33.

TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, August 7th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The company had revenue of $710.36 million during the quarter, compared to analysts’ expectations of $715.40 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. TEGNA’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 3.38%. TEGNA’s dividend payout ratio (DPR) is 17.48%.

Wall Street Analyst Weigh In

Separately, Benchmark restated a “buy” rating and set a $21.00 target price on shares of TEGNA in a report on Thursday, August 8th.

Insider Activity at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.88, for a total value of $347,000.00. Following the completion of the sale, the chief operating officer now owns 179,617 shares of the company’s stock, valued at $2,493,083.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total transaction of $347,000.00. Following the transaction, the chief operating officer now owns 179,617 shares in the company, valued at approximately $2,493,083.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David T. Lougee sold 98,437 shares of TEGNA stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the sale, the chief executive officer now owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The disclosure for this sale can be found here. Insiders have sold 123,467 shares of company stock valued at $1,723,563 in the last ninety days. Corporate insiders own 0.88% of the company’s stock.

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.