Envestnet Asset Management Inc. cut its holdings in Hilltop Holdings Inc. (NYSE:HTH – Get Rating) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,276 shares of the financial services provider's stock after selling 739 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Hilltop worth $1,537,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in Hilltop by 1.3% in the first quarter. Nordea Investment Management AB now owns 247,698 shares of the financial services provider's stock valued at $7,448,000 after purchasing an additional 3,126 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in Hilltop by 28.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 932,919 shares of the financial services provider's stock worth $32,783,000 after buying an additional 208,314 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Hilltop during the 4th quarter valued at $277,000. First Eagle Investment Management LLC lifted its position in shares of Hilltop by 273.4% during the fourth quarter. First Eagle Investment Management LLC now owns 35,918 shares of the financial services provider's stock valued at $1,262,000 after purchasing an additional 26,300 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Hilltop by 19.5% in the 4th quarter. Panagora Asset Management Inc. now owns 266,320 shares of the financial services provider's stock valued at $9,358,000 after buying an additional 43,441 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors.
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Wall Street Analyst Weigh In
A number of analysts recently commented on the company. StockNews.com downgraded Hilltop from a "hold" rating to a "sell" rating in a research report on Tuesday, June 14th. Piper Sandler dropped their price target on shares of Hilltop to $28.00 in a research note on Monday, July 4th. Finally, Raymond James cut shares of Hilltop from a "market perform" rating to an "underperform" rating in a report on Thursday, July 7th.
Hilltop Stock Down 3.0 %
Shares of HTH stock opened at $28.40 on Friday. The business has a 50-day moving average price of $27.70 and a two-hundred day moving average price of $29.12. The firm has a market cap of $1.83 billion, a P/E ratio of 10.68 and a beta of 1.10. Hilltop Holdings Inc. has a 12-month low of $25.07 and a 12-month high of $38.47.
Hilltop (NYSE:HTH – Get Rating) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.13. The company had revenue of $351.33 million during the quarter, compared to the consensus estimate of $328.25 million. Hilltop had a return on equity of 8.78% and a net margin of 13.07%. As a group, research analysts expect that Hilltop Holdings Inc. will post 1.33 EPS for the current fiscal year.
Hilltop Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.11%. Hilltop's dividend payout ratio is presently 22.56%.
Insider Activity at Hilltop
In other news, Director Hill A. Feinberg sold 32,500 shares of the company's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $29.69, for a total transaction of $964,925.00. Following the transaction, the director now directly owns 622,736 shares of the company's stock, valued at $18,489,031.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.30% of the stock is owned by insiders.
About Hilltop
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Hilltop Holdings Inc provides business and consumer banking, and financial products and 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, equipment loans and leases, agricultural and commercial real estate loans, and other loans; and commercial and industrial loans, and term and construction finance.
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