The Manufacturers Life Insurance Company Invests $2.78 Million in Hilton Grand Vacations Inc. $HGV

The Manufacturers Life Insurance Company purchased a new position in shares of Hilton Grand Vacations Inc. (NYSE:HGV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 53,136 shares of the company’s stock, valued at approximately $2,783,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Leonteq Securities AG boosted its holdings in Hilton Grand Vacations by 189.7% in the 1st quarter. Leonteq Securities AG now owns 672 shares of the company’s stock worth $26,000 after buying an additional 440 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Hilton Grand Vacations by 743.4% during the second quarter. EverSource Wealth Advisors LLC now owns 641 shares of the company’s stock valued at $27,000 after acquiring an additional 565 shares during the last quarter. Bard Associates Inc. acquired a new position in shares of Hilton Grand Vacations during the fourth quarter valued at approximately $29,000. Allworth Financial LP purchased a new position in shares of Hilton Grand Vacations in the second quarter valued at approximately $43,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Hilton Grand Vacations in the fourth quarter worth approximately $44,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hilton Grand Vacations

In related news, insider Charles R. Jr. Corbin sold 20,691 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $46.90, for a total transaction of $970,407.90. Following the completion of the transaction, the insider 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on HGV. Barclays reduced their price objective on Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Zacks Research cut shares of Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Truist Financial upped their target price on shares of Hilton Grand Vacations from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Mizuho decreased their price target on shares of Hilton Grand Vacations from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, The Goldman Sachs Group decreased their price target on shares of Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Hilton Grand Vacations presently has an average rating of “Hold” and a consensus target price of $54.89.

Hilton Grand Vacations Stock Down 2.9%

Shares of HGV opened at $41.20 on Wednesday. The company’s 50-day moving average price is $48.06 and its 200 day moving average price is $46.88. Hilton Grand Vacations Inc. has a 12-month low of $36.79 and a 12-month high of $55.40. The company has a current ratio of 5.02, a quick ratio of 3.20 and a debt-to-equity ratio of 6.18. The firm has a market cap of $3.20 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 0.42 and a beta of 1.51.

Hilton Grand Vacations (NYSE:HGV) last announced its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share 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 company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $0.54 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Hilton Grand Vacations Inc. will post 4.61 earnings per share for the current year.

Hilton Grand Vacations declared that its board has approved a share repurchase program on Thursday, August 20th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 17% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hilton Grand Vacations Company Profile

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.