Jennison Associates LLC reduced its stake in Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 30.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 432,225 shares of the financial services provider's stock after selling 184,975 shares during the quarter. Jennison Associates LLC owned approximately 0.67% of Hilltop worth $13,900,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of HTH. Quest Partners LLC increased its position in Hilltop by 61.4% in the third quarter. Quest Partners LLC now owns 48,393 shares of the financial services provider's stock worth $1,556,000 after buying an additional 18,415 shares in the last quarter. Empowered Funds LLC increased its holdings in Hilltop by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 189,856 shares of the financial services provider's stock worth $6,106,000 after acquiring an additional 9,648 shares in the last quarter. Victory Capital Management Inc. raised its stake in Hilltop by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 25,984 shares of the financial services provider's stock worth $836,000 after acquiring an additional 1,218 shares during the period. Versor Investments LP lifted its holdings in Hilltop by 171.4% during the third quarter. Versor Investments LP now owns 34,200 shares of the financial services provider's stock valued at $1,100,000 after purchasing an additional 21,600 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in Hilltop by 11.4% during the third quarter. QRG Capital Management Inc. now owns 63,222 shares of the financial services provider's stock valued at $2,033,000 after purchasing an additional 6,487 shares in the last quarter. 57.13% of the stock is owned by institutional investors.
In other Hilltop news, Director Hill A. Feinberg sold 17,157 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $32.99, for a total transaction of $566,009.43. Following the sale, the director now directly owns 544,979 shares of the company's stock, valued at $17,978,857.21. The trade was a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Martin Bradley Winges sold 30,851 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $32.61, for a total value of $1,006,051.11. Following the sale, the chief executive officer now owns 77,748 shares in the company, valued at approximately $2,535,362.28. This trade represents a 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.30% of the company's stock.
Several analysts have recently commented on HTH shares. StockNews.com upgraded shares of Hilltop from a "sell" rating to a "hold" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective on Hilltop from $33.00 to $35.00 and gave the company a "market perform" rating in a research report on Monday, July 29th. Finally, Stephens upped their price objective on Hilltop from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $34.50.
Check Out Our Latest Stock Analysis on HTH
HTH stock opened at $32.28 on Friday. The company has a market capitalization of $2.10 billion, a PE ratio of 19.73 and a beta of 1.14. The company's fifty day moving average price is $31.75 and its 200-day moving average price is $31.52. Hilltop Holdings Inc. has a one year low of $28.58 and a one year high of $35.66.
Hilltop (NYSE:HTH - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. The business had revenue of $411.49 million for the quarter, compared to analysts' expectations of $302.29 million. Hilltop had a net margin of 6.65% and a return on equity of 4.90%. During the same quarter in the previous year, the company earned $0.57 EPS. On average, research analysts predict that Hilltop Holdings Inc. will post 1.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, November 8th. Hilltop's dividend payout ratio is presently 41.72%.
Hilltop Holdings Inc provides business and consumer banking services. It operates through three segments: Banking, Broker-Dealer, and Mortgage Origination. The Banking segment offers savings, checking, interest-bearing checking, and money market accounts; certificates of deposit; lines and letters of credit, home improvement and equity loans, loans for purchasing and carrying securities, term, agricultural and commercial real estate, equipment loans, and other lending products; and mortgage, commercial and industrial loans, and term and construction finance.
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