Legal & General Group Plc Decreases Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Legal & General Group Plc lessened its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,285,026 shares of the financial services provider's stock after selling 126,471 shares during the quarter. Legal & General Group Plc owned about 0.62% of Park Hotels & Resorts worth $18,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PK. Northeast Financial Group Inc. increased its holdings in shares of Park Hotels & Resorts by 34.4% during the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider's stock valued at $1,754,000 after acquiring an additional 31,928 shares in the last quarter. JPMorgan Chase & Co. grew its position in Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock worth $49,182,000 after purchasing an additional 540,920 shares during the last quarter. Franklin Resources Inc. increased its stake in Park Hotels & Resorts by 43.6% during the 3rd quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider's stock valued at $9,936,000 after purchasing an additional 208,877 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Park Hotels & Resorts in the fourth quarter worth $280,000. Finally, MML Investors Services LLC lifted its stake in shares of Park Hotels & Resorts by 55.1% during the third quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider's stock worth $347,000 after buying an additional 8,749 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PK shares. Wells Fargo & Company reduced their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Truist Financial reduced their price objective on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Jefferies Financial Group downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Finally, UBS Group decreased their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $16.39.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock traded up $0.29 on Friday, reaching $9.84. The company's stock had a trading volume of 4,987,504 shares, compared to its average volume of 3,258,998. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $1.99 billion, a P/E ratio of 9.74, a PEG ratio of 1.51 and a beta of 1.73. The stock has a 50-day moving average price of $11.25 and a 200-day moving average price of $13.28. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.95.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $625.00 million during the quarter, compared to analysts' expectations of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. Analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.17%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio is presently 99.01%.

Park Hotels & Resorts Company Profile

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.