Schwab Charles Investment Management Inc. increased its position in Hilltop Holdings Inc. (NYSE:HTH) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345,692 shares of the financial services provider’s stock after acquiring an additional 19,997 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.36% of Hilltop worth $8,757,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in HTH. The Manufacturers Life Insurance Company increased its holdings in shares of Hilltop by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,574 shares of the financial services provider’s stock worth $1,535,000 after acquiring an additional 654 shares during the period. First Trust Advisors LP grew its position in Hilltop by 21.8% in the 3rd quarter. First Trust Advisors LP now owns 90,720 shares of the financial services provider’s stock valued at $2,359,000 after buying an additional 16,254 shares in the last quarter. Victory Capital Management Inc. grew its position in Hilltop by 34.7% in the 3rd quarter. Victory Capital Management Inc. now owns 8,939 shares of the financial services provider’s stock valued at $232,000 after buying an additional 2,301 shares in the last quarter. American Century Companies Inc. bought a new position in Hilltop in the 3rd quarter valued at about $4,516,000. Finally, IndexIQ Advisors LLC grew its position in Hilltop by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 31,551 shares of the financial services provider’s stock valued at $820,000 after buying an additional 14,323 shares in the last quarter. 60.17% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Gerald J. Ford bought 10,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was bought at an average cost of $25.08 per share, for a total transaction of $250,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.50% of the company’s stock.
A number of equities analysts recently issued reports on HTH shares. Piper Jaffray Companies reiterated a “hold” rating on shares of Hilltop in a research report on Friday, February 23rd. ValuEngine upgraded shares of Hilltop from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Hilltop from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Stephens lowered shares of 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 given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.50.
Hilltop Holdings Inc. (HTH) traded down $0.33 during trading hours on Wednesday, hitting $24.96. 310,005 shares of the stock traded hands, compared to its average volume of 391,414. Hilltop Holdings Inc. has a one year low of $21.47 and a one year high of $28.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 1.01. The company has a market cap of $2,449.61, a price-to-earnings ratio of 18.73 and a beta of 1.12.
Hilltop (NYSE:HTH) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $399.15 million during the quarter, compared to analyst estimates of $390.05 million. equities analysts forecast that Hilltop Holdings Inc. will post 2.01 earnings per share for the current year.
Hilltop declared that its Board of Directors has approved a stock repurchase program on Thursday, January 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were given a dividend of $0.07 per share. This is a positive change from Hilltop’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.12%. Hilltop’s dividend payout ratio (DPR) is 20.74%.
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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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