Corebridge Financial Inc. Decreases Stock Position in Hancock Whitney Co. (NASDAQ:HWC)

Corebridge Financial Inc. cut its position in Hancock Whitney Co. (NASDAQ:HWC) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,926 shares of the company’s stock after selling 7,941 shares during the period. Corebridge Financial Inc. owned 0.16% of Hancock Whitney worth $7,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Pathstone Holdings LLC raised its holdings in Hancock Whitney by 7.0% in the 3rd quarter. Pathstone Holdings LLC now owns 32,730 shares of the company’s stock valued at $1,675,000 after acquiring an additional 2,134 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Hancock Whitney by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,154,835 shares of the company’s stock valued at $59,093,000 after purchasing an additional 46,622 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Hancock Whitney by 15.7% in the third quarter. Citigroup Inc. now owns 149,118 shares of the company’s stock valued at $7,630,000 after purchasing an additional 20,213 shares during the last quarter. Cerity Partners LLC lifted its position in 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 buying an additional 12,229 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Hancock Whitney during the third quarter worth $28,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Stock Performance

NASDAQ:HWC opened at $53.55 on Friday. The stock has a market capitalization of $4.61 billion, a P/E ratio of 10.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. Hancock Whitney Co. has a fifty-two week low of $41.56 and a fifty-two week high of $62.40. The company has a 50 day moving average price of $56.56 and a 200 day moving average price of $55.30.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.12. Hancock Whitney had a return on equity of 11.56% and a net margin of 22.40%. During the same period in the previous year, the firm earned $1.26 earnings per share. Equities research analysts forecast that Hancock Whitney Co. will post 5.53 EPS for the current year.

Hancock Whitney Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 3.36%. Hancock Whitney’s dividend payout ratio is 34.09%.

Wall Street Analysts Forecast Growth

HWC has been the subject of a number of recent research reports. Raymond James reaffirmed a “strong-buy” rating and issued a $72.00 target price (up from $64.00) on shares of Hancock Whitney in a research note on Wednesday, January 22nd. Stephens reissued an “overweight” rating and issued a $74.00 price objective (up previously from $68.00) on shares of Hancock Whitney in a report on Wednesday, January 22nd. StockNews.com raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Hancock Whitney from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Hancock Whitney has a consensus rating of “Moderate Buy” and a consensus target price of $62.56.

Hancock Whitney Company 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.