Pzena Investment Management LLC Sells 1,626,583 Shares of Hilton Worldwide Holdings Inc (HLT)
Pzena Investment Management LLC trimmed its holdings in Hilton Worldwide Holdings Inc (NYSE:HLT) by 39.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,544,692 shares of the company’s stock after selling 1,626,583 shares during the period. Pzena Investment Management LLC owned 0.80% of Hilton Worldwide worth $203,219,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of HLT. Capital International Investors acquired a new stake in Hilton Worldwide in the 3rd quarter valued at about $267,430,000. JPMorgan Chase & Co. lifted its holdings in Hilton Worldwide by 19.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,725,143 shares of the company’s stock valued at $882,616,000 after purchasing an additional 2,035,463 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Hilton Worldwide by 29.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,443,609 shares of the company’s stock valued at $308,609,000 after purchasing an additional 999,899 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Hilton Worldwide in the 4th quarter valued at about $73,431,000. Finally, BlackRock Inc. lifted its holdings in Hilton Worldwide by 7.2% in the 4th quarter. BlackRock Inc. now owns 12,876,314 shares of the company’s stock valued at $1,028,303,000 after purchasing an additional 862,504 shares in the last quarter. 98.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on HLT shares. Royal Bank of Canada upped their target price on shares of Hilton Worldwide to $96.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Raymond James Financial upgraded shares of Hilton Worldwide from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $78.00 to $69.00 in a report on Monday, January 8th. Argus upped their target price on shares of Hilton Worldwide from $2.40 to $94.00 and gave the company a “positive” rating in a report on Wednesday, January 3rd. Morgan Stanley restated a “buy” rating on shares of Hilton Worldwide in a report on Friday, December 8th. Finally, Barclays restated a “hold” rating and issued a $88.00 target price on shares of Hilton Worldwide in a report on Friday, February 16th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $80.89.
Hilton Worldwide (NYSE:HLT) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.10. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.24 billion. Hilton Worldwide had a net margin of 13.77% and a return on equity of 39.37%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. research analysts anticipate that Hilton Worldwide Holdings Inc will post 2.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 2nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, March 1st. Hilton Worldwide’s dividend payout ratio (DPR) is presently 32.97%.
Hilton Worldwide announced that its board has initiated a share buyback program on Thursday, November 16th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Hilton Worldwide Company Profile
Hilton Worldwide Holdings Inc is a hospitality company. The Company is engaged in owning, leasing, managing and franchising hotels and resorts. The Company’s segments include ownership, and management and franchise. Its global portfolio of owned and leased properties includes a range of hotels in gateway cities, such as New York City, London, San Francisco, Chicago, Sao Paolo and Tokyo.
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