Nordea Investment Management AB cut its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT - Free Report) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,509 shares of the company's stock after selling 9,023 shares during the period. Nordea Investment Management AB's holdings in Hilton Worldwide were worth $18,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Hilton Worldwide in the third quarter valued at approximately $765,000. Ashton Thomas Securities LLC acquired a new position in shares of Hilton Worldwide in the 3rd quarter valued at $38,000. Franklin Resources Inc. grew its holdings in shares of Hilton Worldwide by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 4,090,950 shares of the company's stock worth $1,012,069,000 after purchasing an additional 121,900 shares during the period. Chartwell Investment Partners LLC increased its position in shares of Hilton Worldwide by 35.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 28,756 shares of the company's stock worth $6,628,000 after purchasing an additional 7,583 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Hilton Worldwide by 201.4% in the 3rd quarter. SG Americas Securities LLC now owns 181,576 shares of the company's stock valued at $41,853,000 after buying an additional 121,322 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Hilton Worldwide from $208.00 to $220.00 and gave the stock a "hold" rating in a report on Thursday, October 24th. Bank of America upped their price target on Hilton Worldwide from $230.00 to $265.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Barclays lifted their price objective on Hilton Worldwide from $243.00 to $268.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Melius lowered Hilton Worldwide from a "buy" rating to a "hold" rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group lifted their target price on Hilton Worldwide from $237.00 to $277.00 and gave the company a "hold" rating in a research report on Thursday, January 2nd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Hilton Worldwide currently has a consensus rating of "Hold" and an average target price of $238.24.
Read Our Latest Stock Report on Hilton Worldwide
Insider Activity at Hilton Worldwide
In other news, insider Michael W. Duffy sold 14,357 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $235.73, for a total transaction of $3,384,375.61. Following the completion of the sale, the insider now owns 22,833 shares in the company, valued at approximately $5,382,423.09. This represents a 38.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company's stock.
Hilton Worldwide Stock Performance
NYSE HLT traded up $1.91 during trading on Thursday, reaching $243.29. 1,124,926 shares of the company's stock were exchanged, compared to its average volume of 1,115,185. Hilton Worldwide Holdings Inc. has a 1 year low of $179.77 and a 1 year high of $259.01. The stock has a market cap of $59.31 billion, a P/E ratio of 52.21, a price-to-earnings-growth ratio of 3.18 and a beta of 1.30. The company has a 50 day moving average price of $249.14 and a two-hundred day moving average price of $230.88.
Hilton Worldwide (NYSE:HLT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.85 by $0.07. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the firm posted $1.67 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. Research analysts forecast that Hilton Worldwide Holdings Inc. will post 7 EPS for the current fiscal year.
Hilton Worldwide Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Friday, November 15th. Hilton Worldwide's payout ratio is currently 12.88%.
Hilton Worldwide declared that its Board of Directors has initiated a share repurchase program on Thursday, November 14th that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
Hilton Worldwide Company Profile
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Free Report)
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.
Further Reading
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