Legal & General Group Plc Sells 23,606 Shares of Hancock Whitney Corporation $HWC

Legal & General Group Plc decreased its position in Hancock Whitney Corporation (NASDAQ:HWC) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,720 shares of the company’s stock after selling 23,606 shares during the period. Legal & General Group Plc’s holdings in Hancock Whitney were worth $8,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HWC. Amundi acquired a new stake in shares of Hancock Whitney during the first quarter worth about $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Hancock Whitney by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock valued at $2,710,000 after purchasing an additional 2,255 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Hancock Whitney by 22.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock worth $197,000 after acquiring an additional 700 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Hancock Whitney by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company’s stock valued at $15,078,000 after purchasing an additional 11,551 shares during the period. Finally, Jane Street Group LLC boosted its stake in Hancock Whitney by 951.9% in the 1st quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock valued at $6,494,000 after purchasing an additional 112,042 shares during the period. Institutional investors own 81.22% of the company’s stock.

Hancock Whitney Price Performance

NASDAQ:HWC opened at $69.38 on Friday. The stock has a fifty day moving average of $66.79 and a 200 day moving average of $66.10. Hancock Whitney Corporation has a 52-week low of $52.93 and a 52-week high of $75.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 14.25 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.04. Hancock Whitney had a return on equity of 11.20% and a net margin of 21.34%.The business had revenue of $393.64 million for the quarter, compared to the consensus estimate of $400.01 million. During the same quarter last year, the business posted $1.38 earnings per share. The company’s revenue for the quarter was down 19.7% on a year-over-year basis. On average, research analysts expect that Hancock Whitney Corporation will post 6.47 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be issued a $0.50 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.00 annualized dividend and a dividend yield of 2.9%. Hancock Whitney’s payout ratio is currently 41.07%.

Analyst Ratings Changes

Several equities analysts have weighed in on HWC shares. DA Davidson lifted their price objective on Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a report on Monday, May 18th. Weiss Ratings cut Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Citigroup upped their target price on Hancock Whitney from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Piper Sandler upped their price target on Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Wall Street Zen downgraded Hancock Whitney from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.14.

Insider Activity at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of Hancock Whitney stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $67.16, for a total value of $28,005.72. Following the transaction, the director owned 25,066 shares in the company, valued at approximately $1,683,432.56. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Hancock Whitney Profile

Hancock Whitney Corporation (NASDAQ: HWC) is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company’s core business activities include commercial banking, retail banking and wealth management services.