Hyatt Hotels Corporation $H Stock Position Increased by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in Hyatt Hotels by 970.8% in the fourth quarter, ending with 18,524 shares valued at about $2.97 million.
• Hyatt reported stronger-than-expected quarterly results, posting EPS of $0.63 versus estimates of $0.57 and revenue of $1.75 billion, slightly above forecasts.
• The company declared a quarterly dividend of $0.15 per share, while analysts currently rate the stock a Moderate Buy with a consensus target price of $184.07.

Truist Financial Corp lifted its position in Hyatt Hotels Corporation (NYSE:H - Free Report) by 970.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,524 shares of the company's stock after buying an additional 16,794 shares during the period. Truist Financial Corp's holdings in Hyatt Hotels were worth $2,970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bamco Inc. NY raised its position in shares of Hyatt Hotels by 2.7% during the third quarter. Bamco Inc. NY now owns 6,116,673 shares of the company's stock worth $868,139,000 after purchasing an additional 161,461 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Hyatt Hotels by 21.8% during the third quarter. Principal Financial Group Inc. now owns 4,715,085 shares of the company's stock valued at $669,221,000 after purchasing an additional 843,121 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Hyatt Hotels by 7.2% during the third quarter. Wellington Management Group LLP now owns 3,159,562 shares of the company's stock valued at $448,437,000 after purchasing an additional 211,112 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hyatt Hotels by 24.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,765,785 shares of the company's stock valued at $392,548,000 after purchasing an additional 545,003 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Hyatt Hotels by 15.8% during the third quarter. Bank of America Corp DE now owns 1,421,926 shares of the company's stock valued at $201,814,000 after purchasing an additional 193,530 shares during the last quarter. Institutional investors own 73.54% of the company's stock.

Hyatt Hotels Stock Up 0.9%

NYSE:H opened at $166.70 on Wednesday. The firm has a market capitalization of $15.70 billion, a price-to-earnings ratio of -476.29 and a beta of 1.33. Hyatt Hotels Corporation has a 1-year low of $124.82 and a 1-year high of $180.53. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.03. The business's fifty day moving average price is $155.37 and its 200 day moving average price is $158.25.

Hyatt Hotels (NYSE:H - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. Hyatt Hotels had a positive return on equity of 6.01% and a negative net margin of 0.48%.During the same period in the previous year, the firm earned $0.46 earnings per share. On average, sell-side analysts forecast that Hyatt Hotels Corporation will post 3.4 earnings per share for the current fiscal year.

Hyatt Hotels Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, May 29th. Hyatt Hotels's payout ratio is presently -171.43%.

Insider Buying and Selling at Hyatt Hotels

In related news, insider Jnp 2010-Pg Trust sold 213,434 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $167.75, for a total transaction of $35,803,553.50. Following the transaction, the insider directly owned 213,434 shares of the company's stock, valued at approximately $35,803,553.50. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kinsey Wolf sold 400 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $147.28, for a total value of $58,912.00. Following the completion of the transaction, the insider directly owned 545 shares in the company, valued at approximately $80,267.60. The trade was a 42.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 214,234 shares of company stock worth $35,920,202 over the last three months. 23.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on H shares. Susquehanna reduced their target price on Hyatt Hotels from $185.00 to $180.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Mizuho upped their target price on Hyatt Hotels from $203.00 to $223.00 and gave the company an "outperform" rating in a report on Tuesday, January 13th. Wells Fargo & Company upped their target price on Hyatt Hotels from $167.00 to $171.00 and gave the company an "equal weight" rating in a report on Friday, February 13th. Truist Financial upped their target price on Hyatt Hotels from $168.00 to $181.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Finally, JPMorgan Chase & Co. upped their target price on Hyatt Hotels from $181.00 to $186.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $184.07.

Hyatt Hotels Profile

Hyatt Hotels Corporation NYSE: H is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt's business model combines property ownership, management contracts and third-party franchising.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.