Jennison Associates LLC Sells 81,697 Shares of Hilltop Holdings Inc. (NYSE:HTH)

Jennison Associates LLC lowered its holdings in shares of Hilltop Holdings Inc. (NYSE:HTH) by 7.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,047,911 shares of the financial services provider’s stock after selling 81,697 shares during the period. Jennison Associates LLC owned 1.61% of Hilltop worth $36,897,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. North Reef Capital Management LP lifted its holdings in Hilltop by 46.9% during the 3rd quarter. North Reef Capital Management LP now owns 2,525,000 shares of the financial services provider’s stock worth $71,609,000 after purchasing an additional 806,091 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Hilltop by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 691,159 shares of the financial services provider’s stock valued at $19,601,000 after acquiring an additional 19,910 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Hilltop by 523.1% in the third quarter. Assenagon Asset Management S.A. now owns 551,596 shares of the financial services provider’s stock valued at $15,643,000 after acquiring an additional 463,071 shares in the last quarter. Invesco Ltd. grew its stake in shares of Hilltop by 5.3% in the third quarter. Invesco Ltd. now owns 381,230 shares of the financial services provider’s stock valued at $10,812,000 after acquiring an additional 19,355 shares in the last quarter. Finally, First Dallas Securities Inc. bought a new position in Hilltop during the third quarter worth about $5,672,000. 57.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Raymond James raised shares of Hilltop from an “underperform” rating to a “market perform” rating in a report on Friday, January 5th. TheStreet cut Hilltop from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th.

Hilltop Stock Down 0.1 %

HTH opened at $30.50 on Thursday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 17.80 and a beta of 1.12. Hilltop Holdings Inc. has a twelve month low of $26.78 and a twelve month high of $35.66. The company has a 50-day simple moving average of $30.53 and a 200 day simple moving average of $31.02.

Hilltop (NYSE:HTH) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. The company had revenue of $285.24 million during the quarter, compared to the consensus estimate of $274.55 million. Hilltop had a net margin of 6.95% and a return on equity of 5.24%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS. Sell-side analysts anticipate that Hilltop Holdings Inc. will post 1.36 EPS for the current fiscal year.

Hilltop Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, May 9th. Hilltop’s dividend payout ratio is presently 39.77%.

Insider Activity

In related news, CEO Martin Bradley Winges sold 30,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $30.83, for a total transaction of $924,900.00. Following the completion of the sale, the chief executive officer now directly owns 98,934 shares in the company, valued at approximately $3,050,135.22. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Martin Bradley Winges sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $30.83, for a total transaction of $924,900.00. Following the completion of the transaction, the chief executive officer now directly owns 98,934 shares in the company, valued at approximately $3,050,135.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hill A. Feinberg sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $31.63, for a total transaction of $94,890.00. Following the completion of the sale, the director now owns 13,776 shares in the company, valued at approximately $435,734.88. The disclosure for this sale can be found here. Corporate insiders own 28.90% of the company’s stock.

Hilltop Profile

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.