Principal Financial Group Inc. Sells 2,390 Shares of Park National Co. (NYSE:PRK)

Principal Financial Group Inc. trimmed its holdings in shares of Park National Co. (NYSE:PRK) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,516 shares of the company’s stock after selling 2,390 shares during the quarter. Principal Financial Group Inc. owned approximately 0.42% of Park National worth $11,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in shares of Park National by 4.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,709 shares of the company’s stock worth $287,000 after acquiring an additional 80 shares during the last quarter. Arizona State Retirement System lifted its position in Park National by 1.9% during the second quarter. Arizona State Retirement System now owns 4,512 shares of the company’s stock valued at $642,000 after purchasing an additional 83 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Park National by 3.1% during the third quarter. New York State Teachers Retirement System now owns 3,277 shares of the company’s stock valued at $550,000 after purchasing an additional 100 shares during the period. PNC Financial Services Group Inc. increased its position in Park National by 1.5% in the third quarter. PNC Financial Services Group Inc. now owns 8,082 shares of the company’s stock worth $1,358,000 after buying an additional 116 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in Park National by 11.3% in the third quarter. Sanctuary Advisors LLC now owns 2,366 shares of the company’s stock worth $397,000 after buying an additional 241 shares in the last quarter. 62.65% of the stock is owned by hedge funds and other institutional investors.

Park National Stock Down 2.3 %

PRK stock opened at $174.09 on Monday. The business’s 50-day moving average price is $184.54 and its 200-day moving average price is $170.02. The stock has a market cap of $2.81 billion, a P/E ratio of 20.60 and a beta of 0.72. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. Park National Co. has a twelve month low of $123.08 and a twelve month high of $207.99.

Park National Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, November 15th. Park National’s dividend payout ratio is currently 50.18%.

About Park National

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services.