California Public Employees Retirement System lifted its stake in Hilltop Holdings Inc. (NYSE:HTH) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,924 shares of the financial services provider’s stock after buying an additional 24,085 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Hilltop worth $5,647,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rothschild Asset Management Inc. grew its stake in Hilltop by 75.0% during the 3rd quarter. Rothschild Asset Management Inc. now owns 139,188 shares of the financial services provider’s stock valued at $3,619,000 after purchasing an additional 59,670 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Hilltop by 8.4% in the third quarter. Prudential Financial Inc. now owns 623,015 shares of the financial services provider’s stock valued at $16,198,000 after purchasing an additional 48,270 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Hilltop by 6.6% in the third quarter. Stifel Financial Corp now owns 394,662 shares of the financial services provider’s stock valued at $10,276,000 after purchasing an additional 24,572 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Hilltop in the third quarter valued at approximately $4,516,000. Finally, Allianz Asset Management GmbH purchased a new position in Hilltop in the third quarter worth approximately $28,694,000. 60.17% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Gerald J. Ford acquired 10,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was acquired at an average cost of $25.08 per share, for a total transaction of $250,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 22.60% of the company’s stock.
Shares of HTH stock traded up $0.27 during trading on Friday, hitting $25.49. 524,720 shares of the stock were exchanged, compared to its average volume of 319,384. The firm has a market cap of $2,446.73, a price-to-earnings ratio of 18.88 and a beta of 1.12. The company has a current ratio of 1.01, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. Hilltop Holdings Inc. has a 1-year low of $21.47 and a 1-year high of $28.86.
Hilltop (NYSE:HTH) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. Hilltop had a net margin of 7.74% and a return on equity of 8.46%. The firm had revenue of $399.15 million for the quarter, compared to analyst estimates of $390.05 million. equities analysts expect that Hilltop Holdings Inc. will post 2.01 EPS for the current year.
Hilltop announced that its Board of Directors has approved a stock buyback plan on Thursday, January 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were issued a $0.07 dividend. The ex-dividend date was Wednesday, February 14th. This is a boost from Hilltop’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.10%. Hilltop’s dividend payout ratio (DPR) is 20.74%.
HTH has been the topic of several analyst reports. ValuEngine upgraded Hilltop from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Hilltop in a report on Sunday, January 28th. Zacks Investment Research lowered Hilltop from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Stephens downgraded Hilltop from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 29th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.50.
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Hilltop Company Profile
Hilltop Holdings Inc is a financial holding Company. The Company provides business and consumer banking services from offices located throughout Texas through PlainsCapital Bank (the Bank). It has three operating business units, which include PlainsCapital Corporation (PCC) (banking and mortgage origination), Hilltop Securities Holdings LLC (Securities Holdings) (broker-dealer) and PlainsCapital Company (NLC) (insurance).
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