Truist Financial Corp Boosts Stake in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Truist Financial Corp increased its stake in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 3.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,520 shares of the company’s stock after purchasing an additional 1,547 shares during the period. Truist Financial Corp’s holdings in Hilton Worldwide were worth $11,745,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Hilton Worldwide during the 3rd quarter worth approximately $765,000. Franklin Resources Inc. boosted its position in Hilton Worldwide by 3.1% in the 3rd quarter. Franklin Resources Inc. now owns 4,090,950 shares of the company’s stock valued at $1,012,069,000 after buying an additional 121,900 shares during the period. Ashton Thomas Securities LLC purchased a new position in Hilton Worldwide in the 3rd quarter valued at approximately $38,000. Fiduciary Alliance LLC purchased a new position in Hilton Worldwide in the 4th quarter valued at approximately $1,246,000. Finally, Dale Q Rice Investment Management Ltd purchased a new position in Hilton Worldwide in the 4th quarter valued at approximately $593,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Hilton Worldwide Stock Performance

NYSE HLT opened at $267.90 on Friday. The firm has a market cap of $64.46 billion, a PE ratio of 43.56, a P/E/G ratio of 2.87 and a beta of 1.29. Hilton Worldwide Holdings Inc. has a one year low of $193.86 and a one year high of $275.22. The firm’s fifty day moving average is $253.27 and its two-hundred day moving average is $239.24.

Hilton Worldwide (NYSE:HLT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. Hilton Worldwide had a net margin of 13.74% and a negative return on equity of 54.47%. Research analysts predict that Hilton Worldwide Holdings Inc. will post 7.89 earnings per share for the current year.

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 purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hilton Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, February 21st. Hilton Worldwide’s payout ratio is 9.76%.

Insider Activity

In other Hilton Worldwide news, insider Christopher J. Nassetta sold 40,653 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $268.83, for a total transaction of $10,928,745.99. Following the completion of the sale, the insider now directly owns 77,383 shares in the company, valued at $20,802,871.89. The trade was a 34.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael W. Duffy sold 23,366 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $251.66, for a total transaction of $5,880,287.56. Following the sale, the insider now owns 22,833 shares of the company’s stock, valued at approximately $5,746,152.78. This represents a 50.58 % 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.

Analyst Ratings Changes

Several brokerages have commented on HLT. Wells Fargo & Company raised their price target on shares of Hilton Worldwide from $232.00 to $240.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Barclays raised their price target on shares of Hilton Worldwide from $270.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Robert W. Baird raised their price target on shares of Hilton Worldwide from $235.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Hilton Worldwide from $247.00 to $277.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Raymond James raised their price objective on shares of Hilton Worldwide from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $246.61.

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.