Jennison Associates LLC Raises Holdings in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Jennison Associates LLC grew its position in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 33.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,234,809 shares of the company’s stock after buying 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.

Several other hedge funds have also made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its position in shares of Hilton Worldwide by 16.2% in the 1st 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 bought a new position in shares of Hilton Worldwide in the 1st quarter worth $340,000. CANADA LIFE ASSURANCE Co raised its position 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 acquiring an additional 4,677 shares in the last quarter. Shell Asset Management Co. bought a new position in shares of Hilton Worldwide in the 1st quarter worth $390,000. Finally, Vident Advisory LLC increased its position in Hilton Worldwide by 13.7% during 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 in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HLT shares. Robert W. Baird upped their target price on Hilton Worldwide from $235.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI upped their target price 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. Truist Financial boosted their price target on Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Mizuho boosted their price target on Hilton Worldwide from $237.00 to $243.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Macquarie boosted their price target on Hilton Worldwide from $205.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Hilton Worldwide has an average rating of “Hold” and a consensus target price of $228.71.

Insider Activity at Hilton Worldwide

In other Hilton Worldwide news, insider Michael W. Duffy sold 14,357 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was 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 of the company’s stock, valued at $5,382,423.09. This trade represents a 38.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Fuentes sold 4,919 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $217.00, for a total value of $1,067,423.00. Following the transaction, the insider now owns 15,949 shares of the company’s stock, valued at approximately $3,460,933. This 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 Trading Up 0.3 %

Shares of HLT stock opened at $249.76 on Wednesday. The company has a market capitalization of $60.89 billion, a P/E ratio of 53.60, a P/E/G ratio of 3.13 and a beta of 1.30. The business’s 50 day moving average is $235.03 and its two-hundred day moving average is $219.49. Hilton Worldwide Holdings Inc. has a 12-month low of $165.25 and a 12-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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.07. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. Hilton Worldwide had a negative return on equity of 60.85% and a net margin of 10.70%. Hilton Worldwide’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 earnings per share. On average, research analysts predict that Hilton Worldwide Holdings Inc. will post 7 earnings per share for the current fiscal year.

Hilton Worldwide Announces Dividend

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

Hilton Worldwide declared that its board has initiated a share buyback plan on Thursday, November 14th that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About Hilton Worldwide

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.