PNC Financial Services Group Inc. Purchases 4,399 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

PNC Financial Services Group Inc. raised its holdings in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,550 shares of the company’s stock after purchasing an additional 4,399 shares during the period. PNC Financial Services Group Inc.’s holdings in Hilton Worldwide were worth $16,723,000 as of its most recent filing with the Securities and Exchange Commission.

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

Hilton Worldwide Trading Up 0.8 %

HLT opened at $252.03 on Friday. The company has a market cap of $61.44 billion, a P/E ratio of 54.08, a P/E/G ratio of 3.14 and a beta of 1.30. Hilton Worldwide Holdings Inc. has a 12 month low of $165.25 and a 12 month high of $255.86. The business’s 50-day moving average price is $236.52 and its 200-day moving average price is $219.93.

Hilton Worldwide (NYSE:HLT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.07. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Hilton Worldwide Holdings Inc. will post 7 earnings per share for the current fiscal year.

Hilton Worldwide announced that its board has approved a share repurchase program on Thursday, November 14th that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Hilton Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.15 per share. 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 payout ratio is presently 12.88%.

Insider Transactions at Hilton Worldwide

In other news, 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 completion of the transaction, the insider now owns 22,833 shares in the company, valued at $5,382,423.09. The trade was a 38.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Laura Fuentes sold 4,919 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $217.00, for a total transaction of $1,067,423.00. Following the transaction, the insider now owns 15,949 shares in the company, valued at $3,460,933. This represents a 23.57 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on HLT shares. Bank of America boosted their target price on Hilton Worldwide from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Melius downgraded shares of Hilton Worldwide from a “buy” rating to a “hold” rating in a report on Monday, October 21st. TD Cowen lowered their price objective on shares of Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Truist Financial boosted their price objective on shares of Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Melius Research reissued a “hold” rating on shares of Hilton Worldwide in a research note on Monday, October 21st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.