Legal & General Group Plc Has $144.71 Million Position in Marriott International (MAR)
Legal & General Group Plc increased its stake in shares of Marriott International (NASDAQ:MAR) by 4.1% during the first quarter, Holdings Channel reports. The institutional investor owned 1,536,531 shares of the company’s stock after buying an additional 60,277 shares during the period. Legal & General Group Plc owned about 0.40% of Marriott International worth $144,713,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in MAR. Cadence Capital Management LLC bought a new position in shares of Marriott International during the fourth quarter valued at $265,000. Brown Advisory Inc. boosted its position in Marriott International by 4.2% in the fourth quarter. Brown Advisory Inc. now owns 159,024 shares of the company’s stock worth $13,148,000 after buying an additional 6,392 shares during the period. Rafferty Asset Management LLC boosted its position in Marriott International by 9.5% in the fourth quarter. Rafferty Asset Management LLC now owns 11,701 shares of the company’s stock worth $967,000 after buying an additional 1,015 shares during the period. First Allied Advisory Services Inc. boosted its position in Marriott International by 0.7% in the fourth quarter. First Allied Advisory Services Inc. now owns 4,457 shares of the company’s stock worth $369,000 after buying an additional 29 shares during the period. Finally, Carleon Capital Partners LLC boosted its position in Marriott International by 22.3% in the fourth quarter. Carleon Capital Partners LLC now owns 17,530 shares of the company’s stock worth $1,450,000 after buying an additional 3,200 shares during the period. 68.33% of the stock is owned by hedge funds and other institutional investors.
Shares of Marriott International (NASDAQ MAR) traded down 0.23% during trading on Friday, reaching $104.50. The company’s stock had a trading volume of 3,960,268 shares. The stock has a market cap of $39.59 billion, a P/E ratio of 37.02 and a beta of 1.31. The stock’s 50-day moving average is $103.08 and its 200-day moving average is $91.08. Marriott International has a 12-month low of $60.87 and a 12-month high of $110.51.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Monday, May 8th. The company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.11. Marriott International had a return on equity of 38.10% and a net margin of 4.91%. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the business posted $0.87 earnings per share. The company’s revenue for the quarter was up 47.4% on a year-over-year basis. Equities research analysts anticipate that Marriott International will post $4.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, May 19th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $1.32 annualized dividend and a dividend yield of 1.26%. This is an increase from Marriott International’s previous quarterly dividend of $0.30. Marriott International’s payout ratio is currently 47.48%.
WARNING: “Legal & General Group Plc Has $144.71 Million Position in Marriott International (MAR)” was originally published by Watch List News and is the property of of Watch List News. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://www.watchlistnews.com/legal-general-group-plc-has-144-71-million-position-in-marriott-international-mar/1372496.html.
A number of research firms have recently commented on MAR. Royal Bank Of Canada reissued an “outperform” rating and set a $109.00 price target (up previously from $92.00) on shares of Marriott International in a report on Monday, June 12th. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Wednesday, May 31st. J P Morgan Chase & Co reissued an “overweight” rating and set a $111.00 price target on shares of Marriott International in a report on Friday, May 12th. Barclays PLC reissued a “hold” rating and set a $105.00 price target on shares of Marriott International in a report on Friday, May 12th. Finally, Instinet boosted their price target on Marriott International from $100.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $97.97.
In other news, Director Bruce W. Duncan sold 4,863 shares of Marriott International stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $90.00, for a total value of $437,670.00. Following the transaction, the director now owns 47,587 shares in the company, valued at $4,282,830. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David A. Rodriguez sold 11,112 shares of Marriott International stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $90.00, for a total value of $1,000,080.00. Following the completion of the transaction, the insider now owns 31,325 shares in the company, valued at approximately $2,819,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,029 shares of company stock worth $10,117,644. Company insiders own 17.07% of the company’s stock.
Marriott International Company Profile
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.
Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International (NASDAQ:MAR).
Receive News & Ratings for Marriott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International and related companies with Analyst Ratings Network's FREE daily email newsletter.