Aviva PLC Has $1.96 Million Position in Park Hotels & Resorts Inc (PK)

Aviva PLC lessened its holdings in shares of Park Hotels & Resorts Inc (NYSE:PK) by 22.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,351 shares of the financial services provider’s stock after selling 21,723 shares during the quarter. Aviva PLC’s holdings in Park Hotels & Resorts were worth $1,958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of Montreal Can increased its stake in Park Hotels & Resorts by 2,319.4% in the third quarter. Bank of Montreal Can now owns 16,815 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 16,120 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Park Hotels & Resorts by 32.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 168,371 shares of the financial services provider’s stock worth $5,526,000 after acquiring an additional 40,810 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Park Hotels & Resorts by 3.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 202,264 shares of the financial services provider’s stock worth $6,638,000 after acquiring an additional 7,489 shares during the last quarter. US Bancorp DE grew its position in shares of Park Hotels & Resorts by 11.6% during the third quarter. US Bancorp DE now owns 33,607 shares of the financial services provider’s stock worth $1,102,000 after acquiring an additional 3,484 shares during the last quarter. Finally, Cadence Capital Management LLC purchased a new position in shares of Park Hotels & Resorts during the third quarter worth approximately $329,000.

Shares of PK opened at $31.47 on Friday. Park Hotels & Resorts Inc has a 12-month low of $25.30 and a 12-month high of $34.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market cap of $6.32 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 2.10 and a beta of 1.29.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, February 27th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. Park Hotels & Resorts had a net margin of 17.25% and a return on equity of 8.29%. The firm had revenue of $686.00 million for the quarter, compared to analyst estimates of $659.09 million. During the same period last year, the firm posted $0.68 EPS. Park Hotels & Resorts’s quarterly revenue was up .0% on a year-over-year basis. Analysts anticipate that Park Hotels & Resorts Inc will post 2.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.72%.

PK has been the topic of a number of research reports. TheStreet upgraded shares of Park Hotels & Resorts from a “c” rating to a “b-” rating in a research report on Friday, February 22nd. Wells Fargo & Co lowered their target price on shares of Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating on the stock in a research report on Friday, November 16th. Barclays restated a “buy” rating and set a $35.00 target price on shares of Park Hotels & Resorts in a research report on Sunday, March 3rd. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Wednesday, March 6th. Finally, Deutsche Bank set a $34.00 target price on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a research report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $33.00.

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Park Hotels & Resorts Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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