Intech Investment Management LLC Acquires 24,173 Shares of Hilltop Holdings Inc. (NYSE:HTH)

Intech Investment Management LLC raised its position in Hilltop Holdings Inc. (NYSE:HTH) by 247.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,947 shares of the financial services provider’s stock after purchasing an additional 24,173 shares during the quarter. Intech Investment Management LLC owned 0.05% of Hilltop worth $972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC raised its stake in shares of Hilltop by 53.1% in the 3rd quarter. Jane Street Group LLC now owns 70,905 shares of the financial services provider’s stock valued at $2,280,000 after purchasing an additional 24,591 shares during the period. State Street Corp raised its stake in shares of Hilltop by 4.4% in the 3rd quarter. State Street Corp now owns 2,568,227 shares of the financial services provider’s stock valued at $82,594,000 after purchasing an additional 107,348 shares during the period. Geode Capital Management LLC raised its stake in shares of Hilltop by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,056,739 shares of the financial services provider’s stock valued at $33,991,000 after purchasing an additional 17,477 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Hilltop by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 794,060 shares of the financial services provider’s stock valued at $25,537,000 after purchasing an additional 19,936 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Hilltop by 5.1% in the 4th quarter. Empowered Funds LLC now owns 199,528 shares of the financial services provider’s stock valued at $5,712,000 after purchasing an additional 9,672 shares during the period. Institutional investors and hedge funds own 57.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HTH. Keefe, Bruyette & Woods dropped their price target on Hilltop from $35.00 to $34.00 and set a “market perform” rating on the stock in a research note on Monday, February 3rd. Raymond James downgraded Hilltop from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 19th.

Hilltop Stock Performance

NYSE:HTH opened at $30.41 on Friday. The stock’s 50-day simple moving average is $30.64 and its 200 day simple moving average is $30.95. The company has a market cap of $1.97 billion, a P/E ratio of 17.48 and a beta of 1.14. Hilltop Holdings Inc. has a 52-week low of $26.67 and a 52-week high of $35.32.

Hilltop (NYSE:HTH) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.27. Hilltop had a return on equity of 5.18% and a net margin of 7.04%. As a group, equities analysts predict that Hilltop Holdings Inc. will post 1.51 earnings per share for the current fiscal year.

Hilltop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Thursday, February 13th. This is an increase from Hilltop’s previous quarterly dividend of $0.17. Hilltop’s payout ratio is 41.38%.

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.