Corebridge Financial Inc. Lowers Holdings in Marriott International, Inc. (NASDAQ:MAR)

Corebridge Financial Inc. trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,923 shares of the company’s stock after selling 1,278 shares during the period. Corebridge Financial Inc.’s holdings in Marriott International were worth $20,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MAR. Charles Schwab Investment Management Inc. boosted its holdings in shares of Marriott International by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,477,619 shares of the company’s stock valued at $412,167,000 after buying an additional 32,288 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Marriott International by 4.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock worth $254,613,000 after purchasing an additional 46,563 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Marriott International by 8.4% during the 3rd quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock valued at $152,399,000 after purchasing an additional 47,551 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Marriott International in the 4th quarter worth $165,162,000. Finally, PointState Capital LP acquired a new position in Marriott International during the 3rd quarter valued at about $98,249,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their price target on Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. UBS Group raised their price target on shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Truist Financial dropped their price objective on shares of Marriott International from $308.00 to $300.00 and set a “hold” rating on the stock in a report on Friday. Jefferies Financial Group raised their target price on Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group increased their price objective on Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $286.05.

Marriott International Price Performance

Marriott International stock opened at $242.92 on Tuesday. The business has a 50 day simple moving average of $274.94 and a 200-day simple moving average of $270.47. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The stock has a market capitalization of $66.97 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, February 11th. The company reported $2.45 EPS 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, February 27th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.52 annualized dividend and a dividend yield of 1.04%. Marriott International’s dividend payout ratio is currently 30.29%.

Insider Activity at Marriott International

In related news, insider William P. Brown sold 12,642 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the sale, the insider now owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. The trade was a 29.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the transaction, the chief financial officer now directly owns 14,282 shares of the company’s stock, valued at approximately $3,971,395.74. This trade represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,694 shares of company stock worth $8,938,132 over the last three months. 12.32% of the stock is currently owned by corporate insiders.

About Marriott International

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.