State Board of Administration of Florida Retirement System decreased its holdings in Hilltop Holdings Inc. (NYSE:HTH) by 5.7% during the second quarter, Holdings Channel.com reports. The firm owned 97,307 shares of the financial services provider’s stock after selling 5,925 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Hilltop were worth $3,542,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its holdings in Hilltop by 102.4% in the first quarter. BlackRock Inc. now owns 10,212,422 shares of the financial services provider’s stock worth $348,550,000 after buying an additional 5,166,125 shares during the last quarter. Geode Capital Management LLC increased its holdings in Hilltop by 4.3% in the first quarter. Geode Capital Management LLC now owns 1,219,380 shares of the financial services provider’s stock worth $41,617,000 after buying an additional 50,719 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Hilltop by 34.6% in the first quarter. Ameriprise Financial Inc. now owns 1,021,159 shares of the financial services provider’s stock worth $34,851,000 after buying an additional 262,735 shares during the last quarter. Royce & Associates LP increased its holdings in Hilltop by 43.5% in the first quarter. Royce & Associates LP now owns 950,168 shares of the financial services provider’s stock worth $32,429,000 after buying an additional 288,215 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Hilltop by 77.2% in the first quarter. Bank of New York Mellon Corp now owns 821,225 shares of the financial services provider’s stock worth $28,029,000 after buying an additional 357,872 shares during the last quarter. Institutional investors own 66.21% of the company’s stock.
In other Hilltop news, CEO Jerry Schaffner sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $33.03, for a total transaction of $990,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.30% of the stock is owned by corporate insiders.
Hilltop (NYSE:HTH) last announced its earnings results on Thursday, July 22nd. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. The firm had revenue of $447.82 million during the quarter, compared to analysts’ expectations of $483.49 million. Hilltop had a return on equity of 19.92% and a net margin of 21.68%. The company’s revenue was down 21.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts anticipate that Hilltop Holdings Inc. will post 4.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Friday, August 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.49%. Hilltop’s payout ratio is currently 10.48%.
A number of research firms recently commented on HTH. Raymond James downgraded Hilltop from an “outperform” rating to a “market perform” rating and set a $31.89 price objective on the stock. in a report on Monday, July 26th. Stephens restated an “equal weight” rating and issued a $31.89 price objective (down previously from $35.00) on shares of Hilltop in a report on Monday, July 26th. Finally, Zacks Investment Research downgraded Hilltop from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Monday, June 28th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Hilltop currently has a consensus rating of “Hold” and a consensus price target of $33.13.
Hilltop Holdings, Inc engages in the provision of business and consumer banking services. It operates through the following segments: Banking, Broker-Dealer, Mortgage Origination and Insurance. The Banking segment includes business banking, personal banking, wealth and investment management. The Broker-Dealer segment includes the following lines of business: public finance, capital markets, retail, structured finance, clearing services and securities lending.
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