Jennison Associates LLC Boosts Stock Position in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Jennison Associates LLC lifted its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT - Free Report) by 33.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,234,809 shares of the company's stock after acquiring an additional 806,029 shares during the quarter. Jennison Associates LLC owned 1.33% of Hilton Worldwide worth $745,624,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Hilton Worldwide by 16.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,043 shares of the company's stock valued at $3,422,000 after purchasing an additional 2,242 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Hilton Worldwide during the first quarter worth $340,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Hilton Worldwide by 3.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 137,675 shares of the company's stock valued at $29,375,000 after acquiring an additional 4,677 shares in the last quarter. Shell Asset Management Co. acquired a new position in Hilton Worldwide during the 1st quarter worth $390,000. Finally, Vident Advisory LLC boosted its stake in shares of Hilton Worldwide by 13.7% in the 1st quarter. Vident Advisory LLC now owns 40,803 shares of the company's stock valued at $8,704,000 after buying an additional 4,906 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.

Insider Activity

In related news, insider Laura Fuentes sold 4,919 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $217.00, for a total transaction of $1,067,423.00. Following the completion of the sale, the insider now directly owns 15,949 shares of the company's stock, valued at approximately $3,460,933. This represents a 23.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael W. Duffy sold 14,357 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $235.73, for a total value of $3,384,375.61. Following the completion of the transaction, the insider now directly owns 22,833 shares in the company, valued at $5,382,423.09. This trade represents a 38.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company's stock.

Hilton Worldwide Stock Performance

NYSE HLT traded up $0.38 during trading hours on Wednesday, reaching $250.14. The company's stock had a trading volume of 786,696 shares, compared to its average volume of 1,550,265. Hilton Worldwide Holdings Inc. has a fifty-two week low of $165.25 and a fifty-two week high of $255.86. The stock has a market cap of $60.98 billion, a PE ratio of 53.60, a PEG ratio of 3.13 and a beta of 1.30. The company's 50-day moving average is $235.03 and its two-hundred day moving average is $219.49.

Hilton Worldwide (NYSE:HLT - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.07. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.90 billion. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 EPS. Equities analysts expect that Hilton Worldwide Holdings Inc. will post 7 earnings per share for the current fiscal year.

Hilton Worldwide announced that its board has initiated a stock buyback program on Thursday, November 14th that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Hilton Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Hilton Worldwide's dividend payout ratio is currently 12.88%.

Analysts Set New Price Targets

A number of analysts recently weighed in on HLT shares. Evercore ISI upped their target price on shares of Hilton Worldwide from $210.00 to $240.00 and gave the stock an "in-line" rating in a research note on Monday, October 21st. Bank of America raised their price objective on shares of Hilton Worldwide from $230.00 to $265.00 and gave the company a "buy" rating in a report on Monday, October 21st. Robert W. Baird boosted their target price on shares of Hilton Worldwide from $235.00 to $236.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. The Goldman Sachs Group initiated coverage on Hilton Worldwide in a research note on Wednesday, September 18th. They issued a "buy" rating and a $245.00 price target on the stock. Finally, TD Cowen dropped their price objective on Hilton Worldwide from $265.00 to $256.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $228.71.

Hilton Worldwide Profile

Hilton Worldwide Holdings Inc, a hospitality company, engages in managing, franchising, owning, and leasing hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. It operates luxury hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts brand; lifestyle hotels under the Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton, and Motto by Hilton brand; full service hotels under the Signia by Hilton, Hilton Hotels & Resorts, and DoubleTree by Hilton brand; service hotels under the Hilton Garden Inn, Hampton by Hilton, and Tru by Hilton brand; all-suite hotels under the Embassy Suites by Hilton, Homewood Suites by Hilton, and Home2 Suites by Hilton brand; and economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.