The Manufacturers Life Insurance Company Has $31.18 Million Holdings in Hancock Whitney Co. (NASDAQ:HWC)

The Manufacturers Life Insurance Company trimmed its position in Hancock Whitney Co. (NASDAQ:HWC) by 5.8% in the third quarter, according to its most recent filing with the SEC. The fund 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 filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Hancock Whitney by 707.2% during the second quarter. Victory Capital Management Inc. now owns 576,264 shares of the company’s stock valued at $27,563,000 after purchasing an additional 504,873 shares in the last quarter. AQR Capital Management LLC raised its holdings in Hancock Whitney by 213.7% in the 2nd quarter. AQR Capital Management LLC now owns 735,790 shares of the company’s stock valued at $34,663,000 after buying an additional 501,259 shares during the last quarter. Hancock Whitney Corp boosted its position in Hancock Whitney by 30.9% during the 2nd quarter. Hancock Whitney Corp now owns 1,069,223 shares of the company’s stock worth $51,141,000 after buying an additional 252,473 shares during the period. American Century Companies Inc. grew its holdings in Hancock Whitney by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 1,401,113 shares of the company’s stock worth $67,015,000 after acquiring an additional 237,526 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Hancock Whitney by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,980,204 shares of the company’s stock valued at $238,197,000 after acquiring an additional 167,304 shares during the period. Institutional investors and hedge funds own 81.22% of the company’s stock.

Insider Buying and Selling at Hancock Whitney

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

Hancock Whitney Stock Performance

Shares of HWC stock opened at $59.38 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.06. Hancock Whitney Co. has a 52 week low of $40.79 and a 52 week high of $62.40. The firm has a 50 day moving average of $54.31 and a 200-day moving average of $50.91. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 13.31 and a beta of 1.25.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. The firm had revenue of $525.37 million during the quarter, compared to the consensus estimate of $363.54 million. Hancock Whitney had a net margin of 19.30% and a return on equity of 11.47%. During the same period in the previous year, the firm posted $1.12 earnings per share. On average, equities analysts forecast that Hancock Whitney Co. will post 5.19 earnings per share for the current year.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.60 annualized dividend and a yield of 2.69%. Hancock Whitney’s payout ratio is currently 35.87%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HWC shares. DA Davidson boosted their price objective on shares of Hancock Whitney from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Truist Financial lowered their price objective on Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.89.

Hancock Whitney Profile

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.