Principal Financial Group Inc. Lowers Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Principal Financial Group Inc. reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 26.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 810,461 shares of the financial services provider's stock after selling 290,889 shares during the quarter. Principal Financial Group Inc. owned 0.39% of Park Hotels & Resorts worth $11,427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Donald Smith & CO. Inc. grew its position in Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider's stock worth $113,890,000 after acquiring an additional 1,484,295 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Park Hotels & Resorts by 287.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider's stock valued at $77,217,000 after purchasing an additional 3,897,889 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Park Hotels & Resorts by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider's stock valued at $46,638,000 after buying an additional 115,391 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider's stock valued at $38,904,000 after buying an additional 1,925,850 shares in the last quarter. Finally, Private Management Group Inc. lifted its position in Park Hotels & Resorts by 11.2% in the 3rd quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider's stock worth $31,376,000 after buying an additional 223,562 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Down 1.4 %

NYSE:PK traded down $0.21 during trading hours on Monday, hitting $14.28. The company had a trading volume of 2,047,627 shares, compared to its average volume of 2,778,908. The stock has a 50-day moving average price of $14.36 and a 200 day moving average price of $14.79. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $2.95 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.80 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same period in the previous year, the company earned $0.51 earnings per share. Park Hotels & Resorts's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities research analysts predict that Park Hotels & Resorts Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PK. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an "equal weight" rating for the company in a research note on Friday, September 13th. Compass Point decreased their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. UBS Group increased their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Monday. Finally, Wolfe Research downgraded Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $18.09.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.