American International Group Inc. Sells 2,701 Shares of Hancock Whitney Co. (NASDAQ:HWC)

American International Group Inc. lessened its position in Hancock Whitney Co. (NASDAQ:HWC) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 156,131 shares of the company’s stock after selling 2,701 shares during the period. American International Group Inc. owned 0.18% of Hancock Whitney worth $7,188,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Hancock Whitney by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,226,780 shares of the company’s stock worth $424,801,000 after purchasing an additional 34,152 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Hancock Whitney by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,749,591 shares of the company’s stock worth $230,786,000 after purchasing an additional 249,944 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Hancock Whitney by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,087,610 shares of the company’s stock worth $52,847,000 after purchasing an additional 48,174 shares during the period. Norges Bank purchased a new stake in shares of Hancock Whitney in the 4th quarter worth about $46,846,000. Finally, Wasatch Advisors LP lifted its position in shares of Hancock Whitney by 3.7% in the 4th quarter. Wasatch Advisors LP now owns 710,251 shares of the company’s stock worth $34,511,000 after purchasing an additional 25,215 shares during the period. Institutional investors own 81.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on HWC. Jefferies Financial Group dropped their target price on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Citigroup lifted their target price on shares of Hancock Whitney from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Keefe, Bruyette & Woods lifted their target price on shares of Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. DA Davidson lifted their price target on shares of Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler lifted their price target on shares of Hancock Whitney from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.78.

Hancock Whitney Price Performance

Shares of NASDAQ:HWC opened at $56.40 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79. Hancock Whitney Co. has a 1-year low of $32.16 and a 1-year high of $57.78. The company has a market capitalization of $4.89 billion, a P/E ratio of 13.15 and a beta of 1.29. The firm’s 50 day simple moving average is $47.65 and its two-hundred day simple moving average is $45.76.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.11. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The business had revenue of $359.60 million for the quarter, compared to the consensus estimate of $359.11 million. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts expect that Hancock Whitney Co. will post 5.1 EPS for the current fiscal year.

Hancock Whitney Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.60 annualized dividend and a yield of 2.84%. This is an increase from Hancock Whitney’s previous quarterly dividend of $0.30. Hancock Whitney’s payout ratio is currently 37.30%.

Insider Buying and Selling at Hancock Whitney

In other news, Director Christine L. Pickering sold 1,300 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $45.62, for a total value of $59,306.00. Following the transaction, the director now owns 23,982 shares of the company’s stock, valued at $1,094,058.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Cecil W. Knight, Jr. sold 844 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the transaction, the insider now owns 58,843 shares of the company’s stock, valued at $2,755,029.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christine L. Pickering sold 1,300 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $45.62, for a total transaction of $59,306.00. Following the completion of the transaction, the director now directly owns 23,982 shares in the company, valued at approximately $1,094,058.84. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.