Legal & General Group Plc boosted its position in Park Hotels & Resorts Inc. (NYSE:PK) by 47.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 666,516 shares of the financial services provider’s stock after buying an additional 215,580 shares during the period. Legal & General Group Plc owned approximately 0.31% of Park Hotels & Resorts worth $17,969,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of PK. Adelante Capital Management LLC purchased a new position in shares of Park Hotels & Resorts during the first quarter worth about $2,106,000. State of Alaska Department of Revenue purchased a new position in shares of Park Hotels & Resorts during the second quarter worth about $1,690,000. Cascade Investment Advisors Inc. boosted its position in shares of Park Hotels & Resorts by 24.8% in the second quarter. Cascade Investment Advisors Inc. now owns 28,358 shares of the financial services provider’s stock worth $765,000 after buying an additional 5,637 shares during the last quarter. Aperio Group LLC boosted its position in shares of Park Hotels & Resorts by 1,065.3% in the second quarter. Aperio Group LLC now owns 413,435 shares of the financial services provider’s stock worth $11,146,000 after buying an additional 377,955 shares during the last quarter. Finally, Forsta AP Fonden purchased a new position in shares of Park Hotels & Resorts during the second quarter worth about $1,429,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Shares of Park Hotels & Resorts Inc. (NYSE PK) opened at 26.89 on Friday. The stock has a 50 day moving average price of $26.47 and a 200 day moving average price of $26.46. Park Hotels & Resorts Inc. has a 52 week low of $24.65 and a 52 week high of $33.40. The firm has a market cap of $5.78 billion and a PE ratio of 2.30.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The company had revenue of $733 million during the quarter, compared to the consensus estimate of $716.51 million. Park Hotels & Resorts’s revenue was up 1.1% on a year-over-year basis. Equities analysts expect that Park Hotels & Resorts Inc. will post $12.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Thursday, September 28th.

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PK has been the subject of several recent research reports. Zacks Investment Research raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. Evercore ISI initiated coverage on Park Hotels & Resorts in a research note on Wednesday, May 31st. They issued an “outperform” rating and a $28.00 price target for the company. J P Morgan Chase & Co initiated coverage on Park Hotels & Resorts in a research note on Thursday, June 15th. They issued an “overweight” rating and a $30.00 price target for the company. Cowen and Company increased their price target on Park Hotels & Resorts from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC increased their price target on Park Hotels & Resorts from $58.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, June 20th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Park Hotels & Resorts has an average rating of “Hold” and an average price target of $34.80.

In other Park Hotels & Resorts news, Director Stephen I. Sadove purchased 9,600 shares of Park Hotels & Resorts stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average price of $25.97 per share, for a total transaction of $249,312.00. Following the acquisition, the director now directly owns 20,151 shares in the company, valued at $523,321.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $26.05, for a total value of $390,750,000.00. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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

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