American International Group Inc. Has $15.82 Million Stake in Marriott International (MAR)
American International Group Inc. lowered its stake in shares of Marriott International (NASDAQ:MAR) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,435 shares of the company’s stock after selling 4,752 shares during the period. American International Group Inc.’s holdings in Marriott International were worth $15,815,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in MAR. Private Advisory Group LLC raised its stake in Marriott International by 2.1% in the 3rd quarter. Private Advisory Group LLC now owns 22,395 shares of the company’s stock valued at $2,469,000 after acquiring an additional 463 shares during the period. Norinchukin Bank The raised its stake in Marriott International by 90.4% in the 3rd quarter. Norinchukin Bank The now owns 41,047 shares of the company’s stock valued at $4,526,000 after acquiring an additional 19,486 shares during the period. Willingdon Wealth Management raised its stake in Marriott International by 4.5% in the 3rd quarter. Willingdon Wealth Management now owns 25,267 shares of the company’s stock valued at $2,786,000 after acquiring an additional 1,079 shares during the period. Pacer Advisors Inc. raised its stake in Marriott International by 18.2% in the 3rd quarter. Pacer Advisors Inc. now owns 14,004 shares of the company’s stock valued at $1,544,000 after acquiring an additional 2,160 shares during the period. Finally, Girard Partners LTD. bought a new stake in Marriott International in the 3rd quarter valued at $215,000. Institutional investors own 67.30% of the company’s stock.
A number of equities research analysts recently weighed in on MAR shares. Stifel Nicolaus increased their price target on Marriott International from $95.00 to $98.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Robert W. Baird increased their price target on Marriott International from $101.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $113.00 price objective (up previously from $111.00) on shares of Marriott International in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $108.62.
Shares of Marriott International (NASDAQ:MAR) opened at $126.50 on Friday. The stock has a market capitalization of $46,079.43, a price-to-earnings ratio of 30.90, a PEG ratio of 3.16 and a beta of 1.34. Marriott International has a 1-year low of $77.03 and a 1-year high of $128.37. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83.
Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.12. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. Marriott International’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. research analysts anticipate that Marriott International will post 4.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is currently 35.87%.
Marriott International announced that its board has authorized a stock repurchase plan on Thursday, November 9th that allows the company to repurchase 30,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, EVP Anthony Capuano sold 13,736 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $107.78, for a total transaction of $1,480,466.08. Following the sale, the executive vice president now directly owns 42,669 shares of the company’s stock, valued at approximately $4,598,864.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Argiris Kyriakidis sold 4,605 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $126.33, for a total value of $581,749.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,778 shares of company stock worth $25,458,277. 11.32% of the stock is currently owned by insiders.
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About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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