Ascent Group LLC Acquires Shares of 5,232 Hilton Worldwide Holdings Inc. (NYSE:HLT)

Ascent Group LLC bought a new position in Hilton Worldwide Holdings Inc. (NYSE:HLT) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 5,232 shares of the company’s stock, valued at approximately $1,206,000.

Several other hedge funds have also recently made changes to their positions in HLT. Signature Estate & Investment Advisors LLC raised its position in Hilton Worldwide by 2.1% during the third quarter. Signature Estate & Investment Advisors LLC now owns 2,029 shares of the company’s stock valued at $468,000 after purchasing an additional 42 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Hilton Worldwide by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,443 shares of the company’s stock valued at $1,946,000 after purchasing an additional 44 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Hilton Worldwide by 4.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,169 shares of the company’s stock valued at $269,000 after buying an additional 46 shares during the period. Graypoint LLC boosted its stake in Hilton Worldwide by 2.6% during the third quarter. Graypoint LLC now owns 1,869 shares of the company’s stock worth $431,000 after buying an additional 47 shares during the period. Finally, Meadow Creek Wealth Advisors LLC increased its position in Hilton Worldwide by 4.2% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 1,184 shares of the company’s stock valued at $273,000 after acquiring an additional 48 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hilton Worldwide

In other news, 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 owns 15,949 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, insider Michael W. Duffy sold 14,357 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $235.73, for a total value of $3,384,375.61. Following the transaction, the insider now owns 22,833 shares in the company, valued at approximately $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. Insiders own 2.50% of the company’s stock.

Hilton Worldwide Stock Performance

Shares of HLT opened at $251.02 on Wednesday. The stock has a market capitalization of $61.19 billion, a PE ratio of 53.87, a PEG ratio of 3.15 and a beta of 1.30. The company has a 50 day moving average price of $241.23 and a 200-day moving average price of $222.87. Hilton Worldwide Holdings Inc. has a fifty-two week low of $166.92 and a fifty-two week high of $255.86.

Hilton Worldwide (NYSE:HLT) last posted its earnings results on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.07. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates 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 was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. Equities research analysts forecast that Hilton Worldwide Holdings Inc. will post 7 EPS for the current year.

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

Hilton Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a yield of 0.24%. Hilton Worldwide’s dividend payout ratio is presently 12.88%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HLT. Melius lowered shares of Hilton Worldwide from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Wells Fargo & Company dropped their target price on Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Truist Financial increased their price target on Hilton Worldwide from $208.00 to $220.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Mizuho boosted their price objective on Hilton Worldwide from $237.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Macquarie increased their target price on Hilton Worldwide from $205.00 to $208.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $228.71.

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.