AIA Group Ltd Sells 8,259 Shares of Marriott International, Inc. (NASDAQ:MAR)

AIA Group Ltd lowered its position in Marriott International, Inc. (NASDAQ:MAR) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,824 shares of the company’s stock after selling 8,259 shares during the quarter. Marriott International comprises about 1.2% of AIA Group Ltd’s portfolio, making the stock its 19th largest position. AIA Group Ltd’s holdings in Marriott International were worth $49,881,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MAR. Norges Bank bought a new stake in shares of Marriott International during the fourth quarter worth $580,922,000. Wellington Management Group LLP boosted its position in Marriott International by 50.8% in the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock valued at $1,300,168,000 after buying an additional 1,570,144 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Marriott International during the fourth quarter valued at approximately $165,162,000. PointState Capital LP bought a new position in Marriott International in the third quarter worth approximately $98,249,000. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Marriott International by 36,564.5% in the 4th quarter. Proficio Capital Partners LLC now owns 360,779 shares of the company’s stock worth $100,636,000 after buying an additional 359,795 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Susquehanna lifted their price objective on Marriott International from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. UBS Group lifted their price objective on shares of Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Argus increased their target price on Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Truist Financial decreased their price objective on Marriott International from $308.00 to $300.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $286.05.

Marriott International Price Performance

NASDAQ:MAR opened at $237.01 on Monday. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The firm has a market capitalization of $65.34 billion, a P/E ratio of 28.49, a PEG ratio of 3.42 and a beta of 1.58. The company’s fifty day moving average price is $272.32 and its 200-day moving average price is $270.93.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. Equities analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

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

Insiders Place Their Bets

In other Marriott International news, insider William P. Brown sold 12,642 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the transaction, the insider now owns 30,919 shares of the company’s stock, valued at $8,831,393.97. This represents a 29.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathleen K. Oberg sold 14,498 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $278.07, for a total value of $4,031,458.86. Following the sale, the chief financial officer now owns 14,282 shares of the company’s stock, valued at $3,971,395.74. The trade was a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,694 shares of company stock worth $8,938,132. Company insiders own 12.32% of the company’s stock.

Marriott International Company 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.