Connor Clark & Lunn Investment Management Ltd. Buys Shares of 29,089 Hilltop Holdings Inc. $HTH

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hilltop Holdings Inc. (NYSE:HTH - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 29,089 shares of the financial services provider's stock, valued at approximately $886,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Hilltop by 4,242.6% in the first quarter. GAMMA Investing LLC now owns 17,631 shares of the financial services provider's stock valued at $579,000 after acquiring an additional 17,225 shares during the period. Barclays PLC grew its position in Hilltop by 10.1% in the fourth quarter. Barclays PLC now owns 117,348 shares of the financial services provider's stock valued at $3,359,000 after acquiring an additional 10,729 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Hilltop by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,012 shares of the financial services provider's stock worth $488,000 after purchasing an additional 5,613 shares during the last quarter. KBC Group NV grew its holdings in shares of Hilltop by 18.7% during the first quarter. KBC Group NV now owns 3,111 shares of the financial services provider's stock worth $95,000 after purchasing an additional 490 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Hilltop during the first quarter worth $491,000. 57.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Jonathan S. Sobel purchased 10,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $32.93 per share, with a total value of $329,300.00. Following the completion of the purchase, the chairman directly owned 77,429 shares of the company's stock, valued at $2,549,736.97. The trade was a 14.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 30,000 shares of company stock worth $976,000 over the last quarter. Corporate insiders own 29.90% of the company's stock.

Hilltop Trading Up 4.8%

Shares of HTH traded up $1.6020 during trading hours on Friday, hitting $34.8120. 144,074 shares of the stock traded hands, compared to its average volume of 406,708. Hilltop Holdings Inc. has a 1-year low of $26.67 and a 1-year high of $34.72. The firm has a market capitalization of $2.19 billion, a PE ratio of 15.61 and a beta of 0.87. The business has a fifty day moving average of $30.81 and a 200-day moving average of $30.47.

Hilltop (NYSE:HTH - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $303.31 million for the quarter, compared to analyst estimates of $310.18 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, equities research analysts expect that Hilltop Holdings Inc. will post 1.51 earnings per share for the current fiscal year.

Hilltop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 15th. Hilltop's dividend payout ratio is 32.29%.

Wall Street Analyst Weigh In

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