Hilltop Holdings Inc. (NYSE:HTH) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in shares of Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 30.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 432,225 shares of the financial services provider's stock after selling 184,975 shares during the period. Jennison Associates LLC owned 0.67% of Hilltop worth $13,900,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HTH. 1620 Investment Advisors Inc. acquired a new position in Hilltop in the second quarter valued at $28,000. Innealta Capital LLC acquired a new stake in Hilltop during the 2nd quarter worth approximately $69,000. Beese Fulmer Investment Management Inc. purchased a new position in shares of Hilltop in the 3rd quarter valued at approximately $203,000. ProShare Advisors LLC increased its holdings in shares of Hilltop by 7.4% in the first quarter. ProShare Advisors LLC now owns 9,407 shares of the financial services provider's stock valued at $295,000 after purchasing an additional 647 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Hilltop during the second quarter worth approximately $394,000. 57.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Hilltop from a "sell" rating to a "hold" rating in a research report on Thursday, October 10th. Stephens raised their price objective on shares of Hilltop from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Hilltop from $33.00 to $35.00 and gave the company a "market perform" rating in a report on Monday, July 29th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $34.50.

Insider Activity

In other news, Director Hill A. Feinberg sold 17,157 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $32.99, for a total transaction of $566,009.43. Following the completion of the transaction, the director now directly owns 544,979 shares of the company's stock, valued at $17,978,857.21. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Martin Bradley Winges sold 30,851 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $32.61, for a total value of $1,006,051.11. Following the completion of the sale, the chief executive officer now directly owns 77,748 shares in the company, valued at approximately $2,535,362.28. The trade was a 28.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.30% of the company's stock.

Hilltop Trading Up 2.0 %

Shares of NYSE:HTH traded up $0.62 on Friday, reaching $32.27. 277,753 shares of the company were exchanged, compared to its average volume of 395,592. The company has a 50-day moving average of $31.75 and a 200-day moving average of $31.53. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 19.80 and a beta of 1.14. Hilltop Holdings Inc. has a 1-year low of $28.58 and a 1-year high of $35.66.

Hilltop (NYSE:HTH - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.09. The company had revenue of $411.49 million for the quarter, compared to analyst estimates of $302.29 million. Hilltop had a net margin of 6.65% and a return on equity of 4.90%. During the same period in the prior year, the business posted $0.57 earnings per share. As a group, analysts forecast that Hilltop Holdings Inc. will post 1.49 earnings per share for the current year.

Hilltop Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, November 8th. Hilltop's dividend payout ratio (DPR) is 41.72%.

Hilltop Company 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.