Legal & General Group Plc Invests $4.08 Million in Hilton Grand Vacations Inc. $HGV

Key Points

• Legal & General Group Plc initiated a roughly $4.08 million position in Hilton Grand Vacations, acquiring 77,991 shares, while institutional investors collectively own 97.23% of the company.
• Hilton Grand Vacations authorized a $600 million stock repurchase program, allowing buybacks of up to 17% of outstanding shares—potentially signaling management views the stock as undervalued.
• The company’s latest quarterly results fell slightly short of expectations, with $0.89 in adjusted earnings per share and $1.36 billion in revenue. Analysts maintain a consensus “Hold” rating, with an average price target of $54.89 versus a recent share price of $42.13.

Legal & General Group Plc bought a new stake in Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 77,991 shares of the company's stock, valued at approximately $4,084,000. Legal & General Group Plc owned 0.10% of Hilton Grand Vacations at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Leonteq Securities AG boosted its position in Hilton Grand Vacations by 189.7% during the 1st quarter. Leonteq Securities AG now owns 672 shares of the company's stock worth $26,000 after acquiring an additional 440 shares during the period. EverSource Wealth Advisors LLC increased 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 purchasing an additional 565 shares during the period. Bard Associates Inc. bought a new stake in shares of Hilton Grand Vacations during the fourth quarter valued at about $29,000. Allworth Financial LP acquired a new stake in Hilton Grand Vacations in the second quarter worth about $43,000. Finally, Quarry LP acquired a new stake in Hilton Grand Vacations in the third quarter worth about $44,000. Institutional investors own 97.23% of the company's stock.

Hilton Grand Vacations Price Performance

HGV stock opened at $42.13 on Friday. Hilton Grand Vacations Inc. has a one year low of $36.79 and a one year high of $55.40. The firm has a 50-day moving average of $47.32 and a two-hundred day moving average of $46.80. The firm has a market capitalization of $3.27 billion, a PE ratio of 23.80, a P/E/G ratio of 0.41 and a beta of 1.50. The company has a current ratio of 5.02, a quick ratio of 3.20 and a debt-to-equity ratio of 6.18.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last released 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 firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the business earned $0.54 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. On average, 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 stock repurchase plan on Thursday, August 20th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 17% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Hilton Grand Vacations

In related news, insider Charles Corbin, Jr. sold 20,691 shares of the firm's 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 sale, the insider directly owned 47,924 shares in the company, valued at approximately $2,247,635.60. This trade represents a 30.16% 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. Corporate insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HGV shares. Weiss Ratings reissued a "hold (c)" rating on shares of Hilton Grand Vacations in a research note on Wednesday, August 26th. Mizuho lowered their price objective 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. Morgan Stanley dropped their target price on Hilton Grand Vacations from $58.00 to $54.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 18th. Barclays decreased their price target 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. Finally, The Goldman Sachs Group dropped their price objective on 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. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $54.89.

About Hilton Grand Vacations

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.

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