Allstate Corp Acquires Shares of 7,088 Marriott International, Inc. (NASDAQ:MAR)

Allstate Corp bought a new position in shares of Marriott International, Inc. (NASDAQ:MAR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,088 shares of the company’s stock, valued at approximately $1,977,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Marriott International in the 4th quarter valued at $580,922,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Marriott International by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,477,619 shares of the company’s stock worth $412,167,000 after purchasing an additional 32,288 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Marriott International by 4.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock valued at $254,613,000 after purchasing an additional 46,563 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Marriott International by 8.4% in the 3rd quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock valued at $152,399,000 after purchasing an additional 47,551 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Marriott International during the fourth quarter worth approximately $165,162,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Activity

In other news, CFO Kathleen K. Oberg sold 14,498 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the sale, the chief financial officer now owns 14,282 shares in the company, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 1,054 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $277.48, for a total value of $292,463.92. Following the completion of the transaction, the director now owns 4,551 shares of the company’s stock, valued at $1,262,811.48. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,694 shares of company stock worth $8,938,132 over the last three months. 12.32% of the stock is currently owned by corporate insiders.

Marriott International Stock Performance

MAR opened at $237.01 on Friday. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The company has a market cap of $65.34 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 3.42 and a beta of 1.58. The business’s fifty day moving average is $272.32 and its two-hundred day moving average is $270.62.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. On average, analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, February 27th. Marriott International’s payout ratio is 30.29%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MAR. Barclays lowered their target price on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their price objective on shares of Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. UBS Group increased their target price on shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Mizuho upped their price objective on Marriott International from $246.00 to $293.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Truist Financial lowered their target price on Marriott International from $308.00 to $300.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $286.05.

Marriott International Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.