Portfolio Design Labs LLC Purchases New Shares in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Portfolio Design Labs LLC acquired a new position in Hilton Worldwide Holdings Inc. (NYSE:HLT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,942 shares of the company’s stock, valued at approximately $1,370,000.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on HLT. The Goldman Sachs Group assumed coverage on Hilton Worldwide in a report on Wednesday, September 18th. They set a “buy” rating and a $245.00 price target for the company. Bank of America lifted their target price on shares of Hilton Worldwide from $230.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial increased their price target on shares of Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Evercore ISI upped their price objective on Hilton Worldwide from $210.00 to $240.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Finally, Melius Research reiterated a “hold” rating on shares of Hilton Worldwide in a research note on Monday, October 21st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $228.71.

Insider Activity

In other Hilton Worldwide news, insider Michael W. Duffy sold 14,357 shares of Hilton Worldwide stock in a transaction that occurred on 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 transaction, the insider now owns 22,833 shares of the company’s stock, valued at $5,382,423.09. The trade was a 38.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Fuentes sold 4,919 shares of the stock in a transaction on Friday, September 13th. The stock was 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 trade represents a 23.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Hilton Worldwide Stock Up 0.3 %

Shares of NYSE:HLT opened at $249.76 on Wednesday. The firm’s 50 day moving average price is $235.03 and its 200-day moving average price is $219.49. The stock has a market capitalization of $60.89 billion, a PE ratio of 53.60, a price-to-earnings-growth ratio of 3.13 and a beta of 1.30. Hilton Worldwide Holdings Inc. has a twelve month low of $165.25 and a twelve month high of $255.86.

Hilton Worldwide (NYSE:HLT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.07. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 EPS. Analysts expect that Hilton Worldwide Holdings Inc. will post 7 earnings per share for the current fiscal year.

Hilton Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Hilton Worldwide’s dividend payout ratio (DPR) is currently 12.88%.

Hilton Worldwide announced that its board has initiated a stock repurchase program on Thursday, November 14th that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Hilton Worldwide Company 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.