NWQ Investment Management Company LLC lowered its holdings in Hilltop Holdings Inc. (NYSE:HTH) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 803,453 shares of the financial services provider’s stock after selling 40,355 shares during the quarter. NWQ Investment Management Company LLC owned 0.84% of Hilltop worth $20,351,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Rothschild Asset Management Inc. lifted its holdings in Hilltop by 75.0% in the third quarter. Rothschild Asset Management Inc. now owns 139,188 shares of the financial services provider’s stock valued at $3,619,000 after acquiring an additional 59,670 shares during the period. Prudential Financial Inc. lifted its holdings in 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 acquiring an additional 48,270 shares during the period. Systematic Financial Management LP acquired a new stake in Hilltop in the fourth quarter valued at $1,603,000. American Century Companies Inc. acquired a new stake in Hilltop in the third quarter valued at $4,516,000. Finally, Stifel Financial Corp lifted its holdings in 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 acquiring an additional 24,572 shares during the period. 60.17% of the stock is owned by institutional investors.
HTH has been the subject of a number of recent analyst reports. ValuEngine raised Hilltop from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Piper Jaffray Companies reissued a “hold” rating and issued a $30.00 target price on shares of Hilltop in a report on Sunday, January 28th. Stephens downgraded Hilltop from an “overweight” rating to an “equal weight” rating in a report on Monday, January 29th. Finally, Zacks Investment Research downgraded Hilltop from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.50.
Hilltop (NYSE:HTH) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $399.15 million during the quarter, compared to the consensus estimate of $390.05 million. Hilltop had a return on equity of 8.46% and a net margin of 7.74%. research analysts forecast that Hilltop Holdings Inc. will post 2.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Wednesday, February 14th. This is an increase from Hilltop’s previous quarterly dividend of $0.06. Hilltop’s payout ratio is 20.74%.
Hilltop declared that its board has initiated a stock repurchase program on Thursday, January 25th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Gerald J. Ford purchased 10,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was acquired at an average price of $25.08 per share, with a total value of $250,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 22.50% of the company’s stock.
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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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