Principal Financial Group Inc. Trims Stake in Hilton Grand Vacations Inc. (NYSE:HGV)

Principal Financial Group Inc. reduced its stake in shares of Hilton Grand Vacations Inc. (NYSE:HGV) by 35.2% during the third quarter, Holdings Channel reports. The institutional investor owned 150,793 shares of the company’s stock after selling 82,005 shares during the period. Principal Financial Group Inc.’s holdings in Hilton Grand Vacations were worth $5,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HGV. Vanguard Group Inc. boosted its position in shares of Hilton Grand Vacations by 1.0% in the first quarter. Vanguard Group Inc. now owns 7,546,080 shares of the company’s stock worth $356,250,000 after purchasing an additional 77,934 shares during the period. Khrom Capital Management LLC bought a new stake in Hilton Grand Vacations in the second quarter worth $3,872,000. Hantz Financial Services Inc. bought a new position in Hilton Grand Vacations during the second quarter valued at $2,694,000. Assenagon Asset Management S.A. increased its holdings in shares of Hilton Grand Vacations by 44.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 148,292 shares of the company’s stock worth $5,386,000 after buying an additional 45,978 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in shares of Hilton Grand Vacations during the 2nd quarter valued at about $786,000. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HGV. Jefferies Financial Group cut Hilton Grand Vacations from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $55.00 to $35.00 in a research note on Friday, August 9th. StockNews.com cut shares of Hilton Grand Vacations from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Mizuho cut their price objective on Hilton Grand Vacations from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lowered shares of Hilton Grand Vacations from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $36.00 in a report on Friday, August 9th. Finally, Truist Financial reduced their price objective on Hilton Grand Vacations from $71.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.00.

Hilton Grand Vacations Stock Performance

Shares of HGV opened at $40.78 on Thursday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 3.08 and a current ratio of 4.83. The stock has a 50-day moving average of $37.98 and a two-hundred day moving average of $39.34. The stock has a market cap of $4.02 billion, a P/E ratio of 46.39, a P/E/G ratio of 2.27 and a beta of 1.82. Hilton Grand Vacations Inc. has a one year low of $33.21 and a one year high of $49.02.

Hilton Grand Vacations (NYSE:HGV) last released its earnings results on Thursday, November 7th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). Hilton Grand Vacations had a return on equity of 16.44% and a net margin of 2.01%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm earned $0.98 EPS. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, research analysts predict that Hilton Grand Vacations Inc. will post 3.49 EPS for the current year.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc, a timeshare company, develops, markets, sells, manages, and operates the resorts, plans and ancillary reservation services under the Hilton Grand Vacations brand. It operates through Real Estate Sales and Financing, and Resort Operations and Club Management segments. Real Estate Sales and Financing segment market and sells the VOIs, and source VOIs through fee-for-service agreements with third-party developers; and provides consumer financing and services loans.