Legal & General Group Plc Reduces Position in Marriott International, Inc. (NASDAQ:MAR)

Legal & General Group Plc lowered its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 26.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,264,451 shares of the company’s stock after selling 447,484 shares during the period. Legal & General Group Plc owned about 0.46% of Marriott International worth $352,706,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Marriott International in the fourth quarter worth about $580,922,000. Wellington Management Group LLP raised its position in shares of Marriott International by 50.8% in the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock worth $1,300,168,000 after acquiring an additional 1,570,144 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Marriott International in the 4th quarter valued at approximately $165,162,000. Invesco Ltd. boosted its position in shares of Marriott International by 17.4% during the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock valued at $967,662,000 after purchasing an additional 512,963 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Marriott International by 36,564.5% in the fourth quarter. Proficio Capital Partners LLC now owns 360,779 shares of the company’s stock worth $100,636,000 after purchasing an additional 359,795 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group upped their target price on shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their target price on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group upped their price target on Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Mizuho lifted 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 cut 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $286.05.

Marriott International Stock Down 0.6 %

NASDAQ MAR opened at $213.36 on Tuesday. The firm has a market capitalization of $58.88 billion, a P/E ratio of 25.64, a PEG ratio of 3.42 and a beta of 1.42. The company has a 50-day moving average price of $265.90 and a 200-day moving average price of $270.63. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $307.52.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, topping 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%. As a group, equities research analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, February 27th were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.18%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 1,054 shares of Marriott International stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $277.48, for a total transaction of $292,463.92. Following the sale, the director now owns 4,551 shares of the company’s stock, valued at approximately $1,262,811.48. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rena Hozore Reiss sold 3,500 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the transaction, the executive vice president now owns 24,733 shares of the company’s stock, valued at approximately $7,089,714.45. This represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,694 shares of company stock valued at $8,938,132. 12.32% of the stock is owned by corporate insiders.

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.