Public Sector Pension Investment Board Sells 117,940 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

Public Sector Pension Investment Board cut its stake in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 28.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 302,194 shares of the company’s stock after selling 117,940 shares during the quarter. Public Sector Pension Investment Board owned 0.12% of Hilton Worldwide worth $69,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HLT. GHP Investment Advisors Inc. bought a new stake in Hilton Worldwide during the 3rd quarter worth approximately $25,000. EdgeRock Capital LLC bought a new stake in Hilton Worldwide during the 2nd quarter worth approximately $33,000. NewSquare Capital LLC bought a new stake in Hilton Worldwide during the 2nd quarter worth approximately $37,000. Family Firm Inc. bought a new stake in Hilton Worldwide during the 2nd quarter worth approximately $38,000. Finally, Ashton Thomas Securities LLC bought a new stake in Hilton Worldwide during the 3rd quarter worth approximately $38,000. 95.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HLT. Melius Research reissued a “hold” rating on shares of Hilton Worldwide in a report on Monday, October 21st. Barclays reduced their target price on shares of Hilton Worldwide from $244.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Melius downgraded shares of Hilton Worldwide from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Bank of America boosted their price target on shares of Hilton Worldwide from $230.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Hilton Worldwide in a research report on Wednesday, September 18th. They issued a “buy” rating and a $245.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $228.71.

Hilton Worldwide Stock Down 1.0 %

Hilton Worldwide stock opened at $250.42 on Thursday. Hilton Worldwide Holdings Inc. has a 12-month low of $165.25 and a 12-month high of $255.86. The firm’s fifty day moving average is $239.19 and its 200 day moving average is $221.46. The company has a market capitalization of $61.05 billion, a PE ratio of 53.74, a PEG ratio of 3.19 and a beta of 1.30.

Hilton Worldwide (NYSE:HLT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, topping 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 firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts expect that Hilton Worldwide Holdings Inc. will post 7 EPS for the current fiscal year.

Hilton Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 0.24%. Hilton Worldwide’s payout ratio is 12.88%.

Hilton Worldwide declared that its board has authorized a stock buyback plan on Thursday, November 14th that authorizes the company to buyback $3.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Laura Fuentes sold 4,919 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $217.00, for a total value of $1,067,423.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael W. Duffy sold 14,357 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $235.73, for a total transaction of $3,384,375.61. Following the completion of the sale, the insider now owns 22,833 shares of the company’s stock, valued at approximately $5,382,423.09. The trade was a 38.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

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.