Jennison Associates LLC Sells 81,697 Shares of Hilltop Holdings Inc. (NYSE:HTH)

Jennison Associates LLC trimmed its holdings in shares of Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,047,911 shares of the financial services provider's stock after selling 81,697 shares during the period. Jennison Associates LLC owned 1.61% of Hilltop worth $36,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new stake in Hilltop during the 3rd quarter worth $215,000. Allspring Global Investments Holdings LLC boosted its position in Hilltop by 49.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,853 shares of the financial services provider's stock valued at $223,000 after buying an additional 2,595 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hilltop by 33.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,932 shares of the financial services provider's stock valued at $225,000 after buying an additional 1,995 shares during the last quarter. Teza Capital Management LLC boosted its position in Hilltop by 5.2% in the 3rd quarter. Teza Capital Management LLC now owns 9,114 shares of the financial services provider's stock valued at $258,000 after buying an additional 449 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hilltop by 29.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,302 shares of the financial services provider's stock valued at $363,000 after buying an additional 2,370 shares during the last quarter. 57.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on HTH. Raymond James raised shares of Hilltop from an "underperform" rating to a "market perform" rating in a research report on Friday, January 5th. TheStreet cut shares of Hilltop from a "b-" rating to a "c+" rating in a research report on Wednesday, March 13th.

Hilltop Price Performance

Shares of Hilltop stock traded down $0.17 on Thursday, hitting $30.37. The company had a trading volume of 203,237 shares, compared to its average volume of 314,882. The business has a 50-day simple moving average of $30.52 and a 200-day simple moving average of $31.02. The company has a market cap of $1.98 billion, a PE ratio of 17.63 and a beta of 1.12. Hilltop Holdings Inc. has a 52 week low of $26.78 and a 52 week high of $35.66.

Hilltop (NYSE:HTH - Get Free Report) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.14. Hilltop had a net margin of 6.95% and a return on equity of 5.24%. The firm had revenue of $285.24 million during the quarter, compared to analysts' expectations of $274.55 million. During the same period last year, the firm posted $0.40 earnings per share. The firm's revenue for the quarter was up .4% compared to the same quarter last year. On average, equities research analysts predict that Hilltop Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Hilltop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, May 9th. Hilltop's dividend payout ratio is 39.77%.

Insiders Place Their Bets

In other Hilltop news, Director Hill A. Feinberg sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $31.63, for a total value of $94,890.00. Following the completion of the sale, the director now owns 13,776 shares in the company, valued at approximately $435,734.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Martin Bradley Winges sold 30,000 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $30.83, for a total transaction of $924,900.00. Following the transaction, the chief executive officer now owns 98,934 shares in the company, valued at approximately $3,050,135.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hill A. Feinberg sold 3,000 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $31.63, for a total transaction of $94,890.00. Following the transaction, the director now owns 13,776 shares in the company, valued at approximately $435,734.88. The disclosure for this sale can be found here. Insiders own 28.90% of the company's stock.

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.