AIA Group Ltd Sells 8,259 Shares of Marriott International, Inc. (NASDAQ:MAR)

AIA Group Ltd cut its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,824 shares of the company's stock after selling 8,259 shares during the quarter. Marriott International makes up 1.2% of AIA Group Ltd's portfolio, making the stock its 19th biggest holding. AIA Group Ltd owned 0.06% of Marriott International worth $49,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. TFG Advisers LLC grew its position in Marriott International by 0.8% in the fourth quarter. TFG Advisers LLC now owns 4,426 shares of the company's stock worth $1,235,000 after acquiring an additional 37 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Marriott International by 1.2% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,290 shares of the company's stock valued at $918,000 after purchasing an additional 38 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in Marriott International by 1.1% in the fourth quarter. Evermay Wealth Management LLC now owns 3,415 shares of the company's stock worth $953,000 after purchasing an additional 38 shares in the last quarter. Essex Financial Services Inc. increased its position in Marriott International by 1.3% during the fourth quarter. Essex Financial Services Inc. now owns 3,004 shares of the company's stock worth $838,000 after buying an additional 39 shares during the last quarter. Finally, Monument Capital Management lifted its position in shares of Marriott International by 5.2% in the fourth quarter. Monument Capital Management now owns 853 shares of the company's stock worth $238,000 after buying an additional 42 shares during the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider William P. Brown sold 12,642 shares of the stock in a transaction on Friday, February 21st. The stock was 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 in the company, valued at approximately $8,831,393.97. This represents a 29.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of Marriott International stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total value 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 $3,971,395.74. This represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock worth $8,938,132 in the last quarter. 12.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MAR shares. Mizuho raised 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. JPMorgan Chase & Co. lifted their price target on shares of Marriott International from $251.00 to $269.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Truist Financial dropped their target price on shares of Marriott International from $308.00 to $300.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Barclays decreased their price target on shares of Marriott International from $287.00 to $283.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. Finally, Argus lifted their price objective on Marriott International from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Marriott International has an average rating of "Hold" and an average target price of $286.05.

Marriott International Stock Performance

Shares of MAR stock traded down $10.04 during mid-day trading on Friday, reaching $214.58. The company's stock had a trading volume of 3,573,896 shares, compared to its average volume of 1,523,553. The firm's 50-day moving average is $267.40 and its two-hundred day moving average is $270.38. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The company has a market cap of $59.22 billion, a P/E ratio of 25.79, a PEG ratio of 3.42 and a beta of 1.42.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. Sell-side analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 27th. Marriott International's payout ratio is 30.29%.

Marriott International Company 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.