American Century Companies Inc. Lowers Position in Hilltop Holdings Inc. $HTH

Key Points

• American Century Companies Inc. has reduced its stake in Hilltop Holdings Inc. (NYSE:HTH) by 3.9%, decreasing its holdings to 410,539 shares worth approximately $12.5 million.
• Hilltop Holdings has reported quarterly earnings of $0.57 per share, surpassing analysts' expectations, although its revenue of $303.31 million fell short of the forecast.
• The company declared a quarterly dividend of $0.18 per share, translating to an annualized payout of $0.72 and a dividend yield of 2.1%.

American Century Companies Inc. reduced its stake in Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 410,539 shares of the financial services provider's stock after selling 16,574 shares during the quarter. American Century Companies Inc. owned approximately 0.64% of Hilltop worth $12,501,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in Hilltop by 26.6% during the 1st quarter. Russell Investments Group Ltd. now owns 48,434 shares of the financial services provider's stock valued at $1,475,000 after purchasing an additional 10,183 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Hilltop by 27.0% in the 1st quarter. Public Sector Pension Investment Board now owns 146,013 shares of the financial services provider's stock valued at $4,446,000 after buying an additional 31,060 shares in the last quarter. SouthState Corp bought a new stake in Hilltop in the 1st quarter valued at approximately $56,000. Nuveen LLC acquired a new position in shares of Hilltop during the 1st quarter worth about $3,763,000. Finally, King Luther Capital Management Corp boosted its stake in shares of Hilltop by 0.8% during the 1st quarter. King Luther Capital Management Corp now owns 129,549 shares of the financial services provider's stock worth $3,945,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 57.13% of the company's stock.

Hilltop Trading Up 0.1%

Shares of NYSE HTH traded up $0.04 during mid-day trading on Thursday, hitting $35.29. The company had a trading volume of 444,756 shares, compared to its average volume of 489,742. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 15.83 and a beta of 0.87. Hilltop Holdings Inc. has a 1 year low of $26.67 and a 1 year high of $35.58. The stock's 50-day moving average price is $31.38 and its 200-day moving average price is $30.58.

Hilltop (NYSE:HTH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.16. Hilltop had a return on equity of 6.46% and a net margin of 8.90%.The company had revenue of $303.31 million during the quarter, compared to analyst estimates of $310.18 million. During the same quarter last year, the company earned $0.31 earnings per share. As a group, equities research analysts forecast that Hilltop Holdings Inc. will post 1.51 earnings per share for the current year.

Hilltop Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.0%. Hilltop's dividend payout ratio (DPR) is presently 32.29%.

Insider Activity

In other Hilltop news, Chairman Jonathan S. Sobel bought 10,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost of $34.75 per share, with a total value of $347,500.00. Following the completion of the purchase, the chairman directly owned 107,429 shares of the company's stock, valued at $3,733,157.75. This trade represents a 10.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders bought 50,000 shares of company stock valued at $1,669,200 over the last quarter. 29.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on HTH. Keefe, Bruyette & Woods reduced their target price on shares of Hilltop from $34.00 to $32.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Hilltop from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $32.00.

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.