Great West Life Assurance Co. Can Has $3.80 Million Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Great West Life Assurance Co. Can lifted its stake in Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,971 shares of the financial services provider’s stock after buying an additional 1,091 shares during the period. Great West Life Assurance Co. Can owned about 0.14% of Park Hotels & Resorts worth $3,804,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Park Hotels & Resorts in the 2nd quarter worth approximately $45,000. Lindbrook Capital LLC grew its position in Park Hotels & Resorts by 143.9% during the 2nd quarter. Lindbrook Capital LLC now owns 3,410 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 2,012 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $45,000. Lazard Asset Management LLC grew its position in Park Hotels & Resorts by 851.0% during the 2nd quarter. Lazard Asset Management LLC now owns 4,080 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 3,651 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Park Hotels & Resorts by 2,821.3% during the 3rd quarter. UMB Bank n.a. now owns 7,274 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 7,025 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on PK. Deutsche Bank Aktiengesellschaft decreased their price target on Park Hotels & Resorts from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Barclays decreased their price objective on Park Hotels & Resorts from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. Compass Point decreased their price objective on Park Hotels & Resorts to $25.00 in a research report on Tuesday, November 15th. Morgan Stanley decreased their price objective on Park Hotels & Resorts from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 18th. Finally, TheStreet lowered Park Hotels & Resorts from a “c-” rating to a “d+” rating in a research report on Wednesday, November 23rd. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.41.

Insider Transactions at Park Hotels & Resorts

In related news, Director Geoffrey Garrett sold 3,000 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $11.86, for a total transaction of $35,580.00. Following the sale, the director now owns 33,604 shares of the company’s stock, valued at approximately $398,543.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.09% of the stock is owned by corporate insiders.

Park Hotels & Resorts Stock Up 3.5 %

NYSE:PK opened at $13.36 on Tuesday. Park Hotels & Resorts Inc. has a 12-month low of $10.92 and a 12-month high of $20.58. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $3.00 billion, a P/E ratio of 46.07 and a beta of 1.89. The stock’s fifty day simple moving average is $12.17 and its 200-day simple moving average is $13.09.

Park Hotels & Resorts (NYSE:PK – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.23). Park Hotels & Resorts had a return on equity of 1.41% and a net margin of 2.67%. The company had revenue of $662.00 million during the quarter, compared to the consensus estimate of $651.62 million. Equities research analysts expect that Park Hotels & Resorts Inc. will post 1.42 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were given a $0.25 dividend. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.01. This represents a $1.00 annualized dividend and a dividend yield of 7.49%. The ex-dividend date of this dividend was Thursday, December 29th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 344.83%.

Park Hotels & Resorts Company Profile

(Get Rating)

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.