Legal & General Group Plc raised its holdings in Wyndham Worldwide Co. (NYSE:WYN) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 593,617 shares of the company’s stock after acquiring an additional 9,892 shares during the quarter. Legal & General Group Plc owned about 0.59% of Wyndham Worldwide worth $62,573,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in WYN. San Francisco Sentry Investment Group CA bought a new position in shares of Wyndham Worldwide during the second quarter worth $158,000. Bronfman E.L. Rothschild L.P. lifted its position in Wyndham Worldwide by 26.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,625 shares of the company’s stock valued at $163,000 after acquiring an additional 338 shares in the last quarter. Smithfield Trust Co. bought a new stake in Wyndham Worldwide in the 2nd quarter valued at $170,000. Advisor Partners LLC bought a new stake in Wyndham Worldwide in the 2nd quarter valued at $206,000. Finally, Pacer Advisors Inc. lifted its position in Wyndham Worldwide by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,158 shares of the company’s stock valued at $217,000 after acquiring an additional 171 shares in the last quarter. 94.13% of the stock is currently owned by hedge funds and other institutional investors.
Wyndham Worldwide Co. (NYSE:WYN) traded up $0.54 on Tuesday, reaching $112.21. 1,039,500 shares of the company traded hands, compared to its average volume of 1,118,144. The company has a market cap of $11,315.10, a PE ratio of 18.46 and a beta of 1.35. Wyndham Worldwide Co. has a 1-year low of $72.84 and a 1-year high of $114.13. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 9.00.
Wyndham Worldwide announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be paid a $0.58 dividend. The ex-dividend date is Friday, November 24th. This represents a $2.32 annualized dividend and a yield of 2.07%. Wyndham Worldwide’s payout ratio is currently 41.58%.
In other Wyndham Worldwide news, Director George Herrera sold 311 shares of Wyndham Worldwide stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $105.82, for a total value of $32,910.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.39% of the stock is currently owned by insiders.
Separately, Zacks Investment Research raised shares of Wyndham Worldwide from a “sell” rating to a “hold” rating and set a $124.00 price objective on the stock in a research report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $108.29.
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About Wyndham Worldwide
Wyndham Worldwide Corporation is a hospitality company. The Company offers a range of hospitality services and products through its global portfolio of brands. The Company operates through three segments: Wyndham Hotel Group, Wyndham Destination Network and Wyndham Vacation Ownership. The Company’s brands include Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, Howard Johnson, Wingate by Wyndham, Microtel Inns & Suites by Wyndham, TRYP by Wyndham, Dolce Hotels and Resorts, RCI, Landal GreenParks, Novasol, Hoseasons, cottages.com, James Villa Holidays, Wyndham Vacation Rentals, Wyndham Vacation Resorts, Shell Vacations Club and WorldMark by Wyndham.
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