The Manufacturers Life Insurance Company Cuts Stake in Hancock Whitney Co. (NASDAQ:HWC)

The Manufacturers Life Insurance Company lowered its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 609,327 shares of the company's stock after selling 37,701 shares during the period. The Manufacturers Life Insurance Company owned 0.71% of Hancock Whitney worth $31,179,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in Hancock Whitney during the 3rd quarter worth approximately $28,000. Cerity Partners LLC raised its stake in shares of Hancock Whitney by 213.3% during the third quarter. Cerity Partners LLC now owns 17,963 shares of the company's stock worth $919,000 after purchasing an additional 12,229 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Hancock Whitney by 15.7% during the third quarter. Citigroup Inc. now owns 149,118 shares of the company's stock worth $7,630,000 after purchasing an additional 20,213 shares during the period. Charles Schwab Investment Management Inc. grew its position in Hancock Whitney by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,154,835 shares of the company's stock valued at $59,093,000 after buying an additional 46,622 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Hancock Whitney by 8.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 692,387 shares of the company's stock valued at $35,429,000 after buying an additional 55,869 shares during the period. 81.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HWC has been the subject of several recent analyst reports. Truist Financial reduced their target price on shares of Hancock Whitney from $57.00 to $56.00 and set a "hold" rating for the company in a research note on Friday, September 20th. DA Davidson raised their price objective on shares of Hancock Whitney from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.89.

Hancock Whitney Price Performance

Hancock Whitney stock traded down $0.56 during trading hours on Friday, hitting $59.38. The stock had a trading volume of 191,065 shares, compared to its average volume of 507,871. Hancock Whitney Co. has a 1-year low of $40.79 and a 1-year high of $62.40. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 13.31 and a beta of 1.25. The stock's fifty day moving average is $54.31 and its two-hundred day moving average is $50.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.82 and a quick ratio of 0.81.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.02. Hancock Whitney had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $525.37 million for the quarter, compared to analysts' expectations of $363.54 million. During the same period in the prior year, the company earned $1.12 EPS. As a group, analysts predict that Hancock Whitney Co. will post 5.19 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. Hancock Whitney's dividend payout ratio is currently 35.87%.

Insider Activity at Hancock Whitney

In related news, Director Christine L. Pickering sold 763 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $52.40, for a total transaction of $39,981.20. Following the sale, the director now owns 23,518 shares in the company, valued at approximately $1,232,343.20. This trade represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John M. Hairston sold 18,000 shares of Hancock Whitney stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $59.44, for a total transaction of $1,069,920.00. Following the completion of the sale, the chief executive officer now directly owns 254,026 shares of the company's stock, valued at $15,099,305.44. The trade was a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,994 shares of company stock valued at $1,593,710. 1.10% of the stock is owned by corporate insiders.

About Hancock Whitney

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.