Jennison Associates LLC Grows Stock Position in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Jennison Associates LLC raised its position in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 5.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,399,270 shares of the company’s stock after buying an additional 164,461 shares during the quarter. Jennison Associates LLC’s holdings in Hilton Worldwide were worth $840,164,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Hilton Worldwide in the third quarter valued at about $765,000. Franklin Resources Inc. lifted its holdings in shares of 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 stake in shares of Hilton Worldwide in the third quarter valued at approximately $38,000. Fiduciary Alliance LLC purchased a new position in Hilton Worldwide in the fourth quarter worth $1,246,000. Finally, Chartwell Investment Partners LLC boosted its position in shares of Hilton Worldwide by 35.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 28,756 shares of the company’s stock worth $6,628,000 after purchasing an additional 7,583 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Insider Transactions at Hilton Worldwide

In other news, insider Michael W. Duffy sold 23,366 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $251.66, for a total transaction of $5,880,287.56. Following the transaction, the insider now directly owns 22,833 shares in the company, valued at $5,746,152.78. This represents a 50.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on HLT shares. Wells Fargo & Company reduced their price objective on shares of Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Bank of America boosted their price target on Hilton Worldwide from $230.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on Hilton Worldwide from $219.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. TD Cowen dropped their price target on Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Evercore ISI boosted their price objective on shares of Hilton Worldwide from $210.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Hilton Worldwide presently has a consensus rating of “Hold” and a consensus price target of $238.24.

Hilton Worldwide Stock Performance

HLT stock opened at $256.24 on Monday. The company has a 50 day moving average price of $249.60 and a two-hundred day moving average price of $234.56. The stock has a market capitalization of $62.47 billion, a P/E ratio of 54.99, a PEG ratio of 2.67 and a beta of 1.29. Hilton Worldwide Holdings Inc. has a one year low of $186.83 and a one year high of $259.01.

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

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.