Assenagon Asset Management S.A. Cuts Stock Position in Hilltop Holdings Inc. (NYSE:HTH)

Assenagon Asset Management S.A. lessened its position in Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,762 shares of the financial services provider's stock after selling 34,164 shares during the period. Assenagon Asset Management S.A. owned about 0.11% of Hilltop worth $2,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in Hilltop in the 4th quarter worth approximately $27,000. Sterling Capital Management LLC lifted its holdings in shares of Hilltop by 827.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,493 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 1,332 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Hilltop during the fourth quarter valued at $193,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Hilltop during the fourth quarter valued at $207,000. Finally, Olympiad Research LP bought a new stake in Hilltop in the 4th quarter worth about $210,000. Institutional investors own 57.13% of the company's stock.

Hilltop Price Performance

Shares of HTH traded up $0.00 during trading hours on Friday, hitting $29.40. The stock had a trading volume of 138,713 shares, compared to its average volume of 383,661. The firm has a market capitalization of $1.89 billion, a PE ratio of 14.94 and a beta of 0.88. Hilltop Holdings Inc. has a 12 month low of $26.67 and a 12 month high of $35.32. The stock has a fifty day moving average price of $29.66 and a 200 day moving average price of $30.00.

Hilltop (NYSE:HTH - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.37. Hilltop had a return on equity of 5.79% and a net margin of 7.87%. The business had revenue of $318.46 million during the quarter, compared to the consensus estimate of $290.68 million. During the same period in the previous year, the company posted $0.42 EPS. As a group, analysts anticipate that Hilltop Holdings Inc. will post 1.51 EPS for the current fiscal year.

Hilltop Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. Hilltop's dividend payout ratio is currently 36.55%.

Analysts Set New Price Targets

Several research firms have issued reports on HTH. Raymond James Financial upgraded shares of Hilltop from an "underperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective 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.

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.