Invesco Ltd. Cuts Stake in Hilltop Holdings Inc. $HTH

Key Points

• Invesco Ltd. reduced its stake in Hilltop Holdings Inc. by 4.6%, owning approximately 303,448 shares worth $9.24 million after selling 14,768 shares in the first quarter.
• Hilltop Holdings recently reported quarterly earnings of $0.57 EPS, exceeding estimates, with a revenue of $303.31 million for the quarter.
• The company announced a $0.18 quarterly dividend scheduled for payment on August 29th, representing a 2.1% yield and a payout ratio of 32.29%.

Invesco Ltd. reduced its holdings in Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 303,448 shares of the financial services provider's stock after selling 14,768 shares during the quarter. Invesco Ltd. owned approximately 0.47% of Hilltop worth $9,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. increased its stake in Hilltop by 4.8% in the fourth quarter. Benjamin Edwards Inc. now owns 8,737 shares of the financial services provider's stock valued at $250,000 after purchasing an additional 397 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in Hilltop by 0.8% in the first quarter. Concurrent Investment Advisors LLC now owns 52,735 shares of the financial services provider's stock valued at $1,606,000 after purchasing an additional 418 shares during the last quarter. KBC Group NV increased its stake in Hilltop by 18.7% in the first quarter. KBC Group NV now owns 3,111 shares of the financial services provider's stock valued at $95,000 after purchasing an additional 490 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Hilltop by 2.1% in the first quarter. Illinois Municipal Retirement Fund now owns 24,552 shares of the financial services provider's stock valued at $748,000 after purchasing an additional 495 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hilltop by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,484 shares of the financial services provider's stock valued at $758,000 after purchasing an additional 989 shares during the last quarter. 57.13% of the stock is currently owned by institutional investors and hedge funds.

Hilltop Stock Performance

Hilltop stock traded down $0.08 during midday trading on Friday, reaching $35.12. The stock had a trading volume of 637,443 shares, compared to its average volume of 492,945. Hilltop Holdings Inc. has a twelve month low of $26.67 and a twelve month high of $35.63. The stock has a market capitalization of $2.21 billion, a PE ratio of 15.75 and a beta of 0.87. The stock's 50-day simple moving average is $31.49 and its 200 day simple moving average is $30.59.

Hilltop (NYSE:HTH - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.16. Hilltop had a return on equity of 6.46% and a net margin of 8.90%.The firm had revenue of $303.31 million for the quarter, compared to analysts' expectations of $310.18 million. During the same quarter last year, the firm earned $0.31 earnings per share. Equities analysts predict that Hilltop Holdings Inc. will post 1.51 earnings per share for the current fiscal year.

Hilltop Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.72 annualized dividend and a yield of 2.1%. Hilltop's dividend payout ratio (DPR) is 32.29%.

Insider Buying and Selling

In related news, Chairman Jonathan S. Sobel acquired 10,000 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were bought at an average cost of $35.36 per share, with a total value of $353,600.00. Following the completion of the transaction, the chairman directly owned 127,429 shares of the company's stock, valued at $4,505,889.44. This trade represents a 8.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 60,000 shares of company stock valued at $2,022,800 over the last 90 days. Company insiders own 29.90% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Hilltop from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $32.00.

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.