Hilltop Holdings Restructures

Tags: hth
4 Dec 12:05am
Posted by ZacksResearch
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Hilltop Holdings Inc. (HTH), formerly known as Affordable Residential Communities (ARC), operates as a property and casualty insurance company providing fire and homeowners insurance through its subsidiary, NLASCO, for low-value dwellings and manufactured homes.

ARC was engaged in manufactured housing and related activities, but sold off all its businesses except NLASCO in July 2007. The company incurred a net loss of $0.11 per share in 3Q08 primarily due to higher loss and loss adjustment expense of $14.0 million and $8.2 million in reinstatement premium.

We will look for further color on the outlook for this company as it invests the proceeds from the sale of earlier business in further acquisitions and expands its operations. We reiterate a Hold rating on the shares with a six-month target price of $9.00 per share.

Read the full analyst report on HTH




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