Texas Permanent School Fund Corp Decreases Stake in Hilltop Holdings Inc. (NYSE:HTH)

Texas Permanent School Fund Corp decreased its holdings in Hilltop Holdings Inc. (NYSE:HTH) by 14.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 34,622 shares of the financial services provider’s stock after selling 5,863 shares during the period. Texas Permanent School Fund Corp owned approximately 0.05% of Hilltop worth $1,083,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Hilltop in the second quarter worth $28,000. Innealta Capital LLC purchased a new stake in Hilltop during the 2nd quarter worth $69,000. SG Americas Securities LLC increased its holdings in Hilltop by 91.1% in the 1st quarter. SG Americas Securities LLC now owns 8,186 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 3,902 shares in the last quarter. Duality Advisers LP purchased a new position in Hilltop in the first quarter valued at about $275,000. Finally, ProShare Advisors LLC lifted its stake in shares of Hilltop by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,407 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 647 shares in the last quarter. Hedge funds and other institutional investors own 57.13% of the company’s stock.

Wall Street Analysts Forecast Growth

HTH has been the subject of a number of recent research reports. StockNews.com upgraded Hilltop from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods upped their price target on Hilltop from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Stephens lifted their price objective on shares of Hilltop from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, Hilltop has a consensus rating of “Hold” and a consensus target price of $34.50.

Hilltop Price Performance

Shares of Hilltop stock opened at $32.80 on Friday. Hilltop Holdings Inc. has a 1-year low of $26.78 and a 1-year high of $35.66. The business has a 50-day moving average of $32.35 and a 200-day moving average of $31.15. The company has a market capitalization of $2.14 billion, a PE ratio of 19.18 and a beta of 1.13.

Hilltop (NYSE:HTH) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Hilltop had a return on equity of 5.30% and a net margin of 7.10%. The firm had revenue of $297.00 million during the quarter, compared to analyst estimates of $283.22 million. During the same quarter last year, the firm earned $0.28 EPS. Hilltop’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts expect that Hilltop Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Hilltop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.17 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.07%. Hilltop’s dividend payout ratio (DPR) is presently 39.77%.

Insider Activity at Hilltop

In other Hilltop news, Director Hill A. Feinberg sold 17,157 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.99, for a total transaction of $566,009.43. Following the completion of the transaction, the director now directly owns 544,979 shares of the company’s stock, valued at approximately $17,978,857.21. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 28.90% of the stock is currently owned by corporate insiders.

About Hilltop

Hilltop Holdings Inc provides business and consumer banking 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, term, agricultural and commercial real estate, equipment loans, and other lending products; and mortgage, commercial and industrial loans, and term and construction finance.