California Public Employees Retirement System Increases Position in Hilltop Holdings Inc. (HTH)
California Public Employees Retirement System lifted its position in shares of Hilltop Holdings Inc. (NYSE:HTH) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,924 shares of the financial services provider’s stock after buying an additional 24,085 shares during the period. California Public Employees Retirement System’s holdings in Hilltop were worth $5,647,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in HTH. First Trust Advisors LP raised its holdings in shares of Hilltop by 21.8% during 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. raised its holdings in shares of Hilltop by 34.7% during 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. purchased a new position in shares of Hilltop during the 3rd quarter valued at about $4,516,000. IndexIQ Advisors LLC raised its holdings in shares of Hilltop by 83.1% during 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. Finally, Prudential Financial Inc. raised its holdings in shares of Hilltop by 8.4% during the 3rd quarter. Prudential Financial Inc. now owns 623,015 shares of the financial services provider’s stock valued at $16,198,000 after buying an additional 48,270 shares in the last quarter. 59.23% of the stock is currently owned by institutional investors.
Hilltop Holdings Inc. (NYSE HTH) opened at $25.60 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. Hilltop Holdings Inc. has a 1 year low of $21.47 and a 1 year high of $28.86. The stock has a market capitalization of $2,403.54, a P/E ratio of 18.96 and a beta of 1.12.
Hilltop declared that its board has initiated a stock repurchase program on Thursday, January 25th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 15th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.09%. This is a positive change from Hilltop’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, February 14th. Hilltop’s dividend payout ratio (DPR) is presently 20.74%.
In related news, Director Gerald J. Ford purchased 10,000 shares of Hilltop stock in a transaction that occurred on Friday, December 22nd. The shares were acquired at an average cost of $25.08 per share, for a total transaction of $250,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.60% of the stock is owned by company insiders.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Hilltop from a “sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a report on Wednesday, January 10th. Stephens cut Hilltop from an “overweight” rating to an “equal weight” rating in a report on Monday, January 29th. ValuEngine raised Hilltop from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $30.00 price objective on shares of Hilltop in a report on Sunday, January 28th. Three research 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.50.
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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