Hancock Whitney Corp Increases Position in TEGNA Inc. (NYSE:TGNA)

Hancock Whitney Corp grew its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 170.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,688 shares of the company's stock after acquiring an additional 56,520 shares during the quarter. Hancock Whitney Corp owned about 0.06% of TEGNA worth $1,640,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TGNA. MML Investors Services LLC acquired a new stake in shares of TEGNA in the third quarter valued at approximately $177,000. Sculati Wealth Management LLC boosted its holdings in shares of TEGNA by 11.6% in the third quarter. Sculati Wealth Management LLC now owns 51,435 shares of the company's stock valued at $768,000 after acquiring an additional 5,330 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of TEGNA by 7.4% in the third quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company's stock valued at $284,000 after acquiring an additional 1,239 shares during the period. World Investment Advisors LLC acquired a new stake in shares of TEGNA in the third quarter valued at approximately $528,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of TEGNA by 26.2% during the third quarter. Principal Financial Group Inc. now owns 891,488 shares of the company's stock worth $14,068,000 after purchasing an additional 184,845 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Price Performance

NYSE TGNA traded down $0.21 during trading hours on Thursday, reaching $16.03. The company's stock had a trading volume of 267,611 shares, compared to its average volume of 2,008,317. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The stock has a market cap of $2.58 billion, a PE ratio of 5.67 and a beta of 0.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company's 50-day moving average is $17.16 and its two-hundred day moving average is $17.70.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Friday, March 7th. TEGNA's dividend payout ratio (DPR) is presently 14.12%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday. StockNews.com downgraded TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Guggenheim decreased their price target on TEGNA from $22.00 to $20.00 and set a "buy" rating for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

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.