Daiwa Securities Group Inc. boosted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 41.8% during the second quarter, Holdings Channel reports. The firm owned 12,900 shares of the financial services provider’s stock after buying an additional 3,800 shares during the period. Daiwa Securities Group Inc.’s holdings in Park Hotels & Resorts were worth $348,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its position in Park Hotels & Resorts by 4.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 221,963 shares of the financial services provider’s stock valued at $5,984,000 after buying an additional 9,000 shares during the last quarter. CIBC Asset Management Inc raised its position in Park Hotels & Resorts by 7.1% in the second quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock valued at $254,000 after buying an additional 624 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Park Hotels & Resorts by 162.9% in the second quarter. Great West Life Assurance Co. Can now owns 111,481 shares of the financial services provider’s stock valued at $3,002,000 after buying an additional 69,071 shares during the last quarter. Loeb Partners Corp raised its position in Park Hotels & Resorts by 96.4% in the second quarter. Loeb Partners Corp now owns 19,707 shares of the financial services provider’s stock valued at $532,000 after buying an additional 9,675 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in Park Hotels & Resorts by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 24,246 shares of the financial services provider’s stock valued at $654,000 after buying an additional 450 shares during the last quarter. 96.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of Park Hotels & Resorts Inc. (NYSE:PK) opened at 26.37 on Wednesday. Park Hotels & Resorts Inc. has a 52-week low of $24.65 and a 52-week high of $33.40. The stock’s 50 day moving average price is $26.77 and its 200-day moving average price is $26.54. The firm has a market cap of $5.67 billion and a price-to-earnings ratio of 2.26.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 EPS 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. The company’s revenue was up 1.1% on a year-over-year basis. On average, analysts forecast that Park Hotels & Resorts Inc. will post $11.93 EPS for the current year.

The firm also recently disclosed 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 6.52%. The ex-dividend date is Thursday, September 28th.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.watchlistnews.com/daiwa-securities-group-inc-increases-position-in-park-hotels-resorts-inc-pk/1493230.html.

Several equities analysts have weighed in on the company. Zacks Investment Research raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. UBS AG assumed coverage on Park Hotels & Resorts in a research note on Wednesday, April 26th. They issued a “neutral” rating on the stock. Boenning Scattergood set a $29.00 target price on Park Hotels & Resorts and gave the company a “buy” rating in a research note on Friday, August 4th. Canaccord Genuity cut their target price on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Finally, Cowen and Company increased their target price 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. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $34.80.

In other Park Hotels & Resorts news, Director Stephen I. Sadove acquired 9,600 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $25.97 per share, with a total value of $249,312.00. Following the purchase, the director now directly owns 20,151 shares of the company’s stock, valued at $523,321.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. 0.25% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding PK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Park Hotels & Resorts Inc. (NYSE:PK).

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

Receive News & Ratings for Park Hotels & Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.