Algert Global LLC Trims Stake in Hilltop Holdings Inc. (NYSE:HTH)

Algert Global LLC reduced its holdings in Hilltop Holdings Inc. (NYSE:HTH) by 15.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,696 shares of the financial services provider’s stock after selling 5,740 shares during the quarter. Algert Global LLC’s holdings in Hilltop were worth $991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Hilltop by 2.9% in the first quarter. Vanguard Group Inc. now owns 5,393,284 shares of the financial services provider’s stock worth $168,918,000 after purchasing an additional 153,697 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Hilltop during the 2nd quarter valued at $1,408,000. Edgestream Partners L.P. bought a new stake in shares of Hilltop during the 1st quarter worth $1,230,000. Empowered Funds LLC bought a new stake in shares of Hilltop during the 1st quarter worth $1,112,000. Finally, King Luther Capital Management Corp grew its position in Hilltop by 43.2% in the second quarter. King Luther Capital Management Corp now owns 116,099 shares of the financial services provider’s stock worth $3,632,000 after acquiring an additional 35,017 shares in the last quarter. Hedge funds and other institutional investors own 57.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HTH shares. StockNews.com lowered Hilltop from a “hold” rating to a “sell” rating in a research note on Wednesday. Stephens raised their price objective on Hilltop from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on Hilltop from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.50.

Hilltop Trading Up 0.3 %

NYSE HTH opened at $31.28 on Friday. The stock has a 50-day moving average of $31.84 and a 200-day moving average of $31.20. Hilltop Holdings Inc. has a 1-year low of $26.78 and a 1-year high of $35.66. The firm has a market cap of $2.04 billion, a PE ratio of 18.29 and a beta of 1.13.

Hilltop (NYSE:HTH) last released 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 in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Hilltop Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Hilltop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, August 16th. Hilltop’s dividend payout ratio (DPR) is 39.77%.

Insider Transactions at Hilltop

In related news, Director Hill A. Feinberg sold 17,157 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $32.99, for a total transaction of $566,009.43. Following the transaction, the director now owns 544,979 shares in the company, valued at $17,978,857.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 28.90% of the stock is currently owned by company 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.