Allianz Asset Management GmbH Boosts Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Allianz Asset Management GmbH raised its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,583,943 shares of the financial services provider’s stock after purchasing an additional 125,730 shares during the period. Allianz Asset Management GmbH owned 1.74% of Park Hotels & Resorts worth $50,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its stake in shares of Park Hotels & Resorts by 420.7% during the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after acquiring an additional 72,044 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Park Hotels & Resorts by 488.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 69,296 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Park Hotels & Resorts by 321.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after acquiring an additional 1,075,255 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of Park Hotels & Resorts by 22.5% during 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 purchasing an additional 1,484,295 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Park Hotels & Resorts by 18.4% during the third 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 period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 3.1 %

Shares of PK opened at $12.63 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts Inc. has a one year low of $12.52 and a one year high of $18.05. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.51 and a beta of 2.00. The stock has a 50 day moving average price of $13.77 and a 200 day moving average price of $14.31.

Park Hotels & Resorts (NYSE:PK) 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). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.92%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is currently 99.01%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PK. Jefferies Financial Group decreased their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. UBS Group decreased their target price 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. Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $18.15.

About Park Hotels & Resorts

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.