The Manufacturers Life Insurance Company Purchases Shares of 53,136 Hilton Grand Vacations Inc. $HGV

The Manufacturers Life Insurance Company acquired a new stake in Hilton Grand Vacations Inc. (NYSE:HGVFree Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,136 shares of the company’s stock, valued at approximately $2,783,000. The Manufacturers Life Insurance Company owned 0.07% of Hilton Grand Vacations as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Hilton Grand Vacations in the second quarter valued at approximately $422,842,000. Parsifal Capital Management LP purchased a new position in Hilton Grand Vacations during the 2nd quarter worth approximately $108,863,038. Arrowstreet Capital Limited Partnership lifted its stake in Hilton Grand Vacations by 489.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,582,535 shares of the company’s stock valued at $66,166,000 after acquiring an additional 1,314,117 shares during the period. TrinityBridge Ltd acquired a new stake in shares of Hilton Grand Vacations in the second quarter worth $52,540,000. Finally, Norges Bank acquired a new stake in shares of Hilton Grand Vacations in the fourth quarter worth $32,871,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hilton Grand Vacations

In other Hilton Grand Vacations news, insider Charles R. Jr. Corbin sold 20,691 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $46.90, for a total value of $970,407.90. Following the sale, the insider directly owned 47,924 shares of the company’s stock, valued at approximately $2,247,635.60. This trade represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HGV shares. Weiss Ratings restated a “hold (c)” rating on shares of Hilton Grand Vacations in a research report on Wednesday, August 26th. Zacks Research lowered Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Morgan Stanley decreased their price objective on Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. Barclays lowered their target price on Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Finally, Susquehanna assumed coverage on Hilton Grand Vacations in a report on Tuesday, August 18th. They set a “neutral” rating and a $50.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hilton Grand Vacations presently has an average rating of “Hold” and a consensus target price of $54.89.

Get Our Latest Report on Hilton Grand Vacations

Hilton Grand Vacations Stock Down 2.9%

HGV opened at $41.20 on Wednesday. The company has a fifty day moving average of $48.06 and a two-hundred day moving average of $46.88. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 0.42 and a beta of 1.51. Hilton Grand Vacations Inc. has a fifty-two week low of $36.79 and a fifty-two week high of $55.40. The company has a debt-to-equity ratio of 6.18, a quick ratio of 3.20 and a current ratio of 5.02.

Hilton Grand Vacations (NYSE:HGVGet Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.05). Hilton Grand Vacations had a return on equity of 20.40% and a net margin of 2.86%.The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that Hilton Grand Vacations Inc. will post 4.61 earnings per share for the current year.

Hilton Grand Vacations declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 20th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the company to buy up to 17% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hilton Grand Vacations Company Profile

(Free Report)

Hilton Grand Vacations Inc is a leading developer and marketer of premium vacation ownership resorts. The company specializes in selling timeshare interests in vacation properties under the Hilton Grand Vacations brand, enabling members to purchase deeded real estate interests and utilize a points-based system for booking stays. Alongside new sales, the company provides ongoing management services for its portfolio of resorts, ensuring high standards of guest services, resort maintenance, and member engagement through its proprietary technology platform.

In addition to vacation ownership sales, Hilton Grand Vacations offers a comprehensive suite of membership benefits.

See Also

Want to see what other hedge funds are holding HGV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hilton Grand Vacations Inc. (NYSE:HGVFree Report).

Institutional Ownership by Quarter for Hilton Grand Vacations (NYSE:HGV)

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