Kinsale Capital Group Inc. Boosts Stake in Marriott International, Inc. $MAR

Kinsale Capital Group Inc. raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 11.4% during the third quarter, HoldingsChannel.com reports. The firm owned 29,289 shares of the company’s stock after buying an additional 2,992 shares during the period. Kinsale Capital Group Inc.’s holdings in Marriott International were worth $7,628,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MAR. AlphaQuest LLC lifted its holdings in shares of Marriott International by 2,750.0% in the 2nd quarter. AlphaQuest LLC now owns 114 shares of the company’s stock valued at $31,000 after buying an additional 110 shares during the period. Addison Advisors LLC purchased a new stake in Marriott International during the 2nd quarter worth approximately $34,000. Darwin Wealth Management LLC purchased a new position in Marriott International in the 2nd quarter valued at $37,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Marriott International during the 2nd quarter valued at about $38,000. Finally, Westside Investment Management Inc. lifted its position in Marriott International by 198.0% during the second quarter. Westside Investment Management Inc. now owns 149 shares of the company’s stock worth $41,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Performance

Shares of MAR stock opened at $333.24 on Friday. The business’s fifty day moving average is $313.17 and its 200-day moving average is $285.64. The stock has a market cap of $89.42 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.92 and a beta of 1.13. Marriott International, Inc. has a 1 year low of $205.40 and a 1 year high of $333.96.

Wall Street Analysts Forecast Growth

MAR has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on Marriott International in a report on Tuesday, November 18th. They issued an “overweight” rating and a $329.00 price objective on the stock. Truist Financial increased their target price on shares of Marriott International from $278.00 to $283.00 and gave the stock a “hold” rating in a research note on Thursday, December 4th. BMO Capital Markets upgraded Marriott International from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $285.00 to $370.00 in a research note on Friday, January 9th. Morgan Stanley boosted their price target on Marriott International from $296.00 to $328.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Sanford C. Bernstein increased their price objective on Marriott International from $329.00 to $369.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $316.19.

Insider Activity at Marriott International

In other news, insider Deborah Marriott Harrison sold 70,000 shares of Marriott International stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $291.63, for a total value of $20,414,100.00. Following the transaction, the insider directly owned 175,210 shares in the company, valued at approximately $51,096,492.30. The trade was a 28.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Felitia Lee sold 1,617 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $305.98, for a total value of $494,769.66. Following the completion of the transaction, the chief accounting officer directly owned 4,893 shares of the company’s stock, valued at approximately $1,497,160.14. This trade represents a 24.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 74,490 shares of company stock valued at $21,756,389. Insiders own 10.68% of the company’s stock.

Marriott International Company Profile

Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.

The company traces its roots to the hospitality business founded by J.