Western Financial Corp CA Lowers Holdings in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Western Financial Corp CA lowered its stake in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,907 shares of the company’s stock after selling 41 shares during the period. Western Financial Corp CA’s holdings in Hilton Worldwide were worth $1,213,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in Hilton Worldwide by 15.3% during the third quarter. Principal Financial Group Inc. now owns 10,756,416 shares of the company’s stock valued at $2,479,354,000 after acquiring an additional 1,429,537 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Hilton Worldwide by 33.2% during the 3rd quarter. Jennison Associates LLC now owns 3,234,809 shares of the company’s stock worth $745,624,000 after purchasing an additional 806,029 shares during the period. Stockbridge Partners LLC increased its holdings in shares of Hilton Worldwide by 63.6% during the 3rd quarter. Stockbridge Partners LLC now owns 1,544,399 shares of the company’s stock valued at $355,984,000 after purchasing an additional 600,593 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Hilton Worldwide by 23,730.1% during the third quarter. International Assets Investment Management LLC now owns 479,223 shares of the company’s stock worth $1,104,610,000 after buying an additional 477,212 shares in the last quarter. Finally, FMR LLC grew its position in Hilton Worldwide by 2.1% during the third quarter. FMR LLC now owns 11,215,391 shares of the company’s stock valued at $2,585,148,000 after buying an additional 226,223 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Hilton Worldwide Stock Performance

Shares of HLT stock opened at $256.24 on Friday. Hilton Worldwide Holdings Inc. has a one year low of $186.83 and a one year high of $259.01. The firm’s 50 day moving average price is $249.60 and its 200-day moving average price is $234.42. The firm has a market cap of $62.47 billion, a P/E ratio of 54.99, a P/E/G ratio of 2.64 and a beta of 1.30.

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

Insider Transactions at Hilton Worldwide

In other news, insider Michael W. Duffy sold 23,366 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $251.66, for a total value of $5,880,287.56. Following the completion of the transaction, the insider now owns 22,833 shares of the company’s stock, valued at approximately $5,746,152.78. This trade represents a 50.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HLT. JPMorgan Chase & Co. lifted their price target on Hilton Worldwide from $219.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Barclays upped their target price on Hilton Worldwide from $243.00 to $268.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Bank of America lifted their price target on shares of Hilton Worldwide from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, October 21st. 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 report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price objective on Hilton Worldwide from $247.00 to $277.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $238.24.

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.