Assenagon Asset Management S.A. Acquires 294,898 Shares of Marriott International, Inc. (NASDAQ:MAR)

Assenagon Asset Management S.A. grew its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 341.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,226 shares of the company's stock after purchasing an additional 294,898 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.14% of Marriott International worth $106,339,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MAR. Silvant Capital Management LLC bought a new position in Marriott International during the 3rd quarter worth $31,000. Darwin Wealth Management LLC bought a new position in Marriott International in the third quarter valued at about $33,000. Cyrus J. Lawrence LLC acquired a new position in shares of Marriott International during the second quarter worth $36,000. ORG Partners LLC increased its holdings in Marriott International by 158.5% in the 4th quarter. ORG Partners LLC now owns 137 shares of the company's stock worth $38,000 after purchasing an additional 84 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in Marriott International in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 70.70% of the company's stock.

Marriott International Trading Down 0.1 %

Shares of NASDAQ:MAR traded down $0.38 during mid-day trading on Wednesday, hitting $276.05. 1,513,370 shares of the company traded hands, compared to its average volume of 1,269,129. The stock has a market cap of $76.71 billion, a P/E ratio of 28.88, a P/E/G ratio of 5.47 and a beta of 1.57. The stock has a 50-day moving average price of $282.64 and a two-hundred day moving average price of $255.36. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $295.45.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company earned $2.11 EPS. The business's revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st were given a $0.63 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.91%. Marriott International's dividend payout ratio is currently 26.36%.

Insider Activity at Marriott International

In other Marriott International news, insider William P. Brown sold 1,707 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the transaction, the insider now owns 23,077 shares in the company, valued at $6,560,791.10. This trade represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Felitia Lee sold 916 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the sale, the chief accounting officer now directly owns 5,609 shares in the company, valued at $1,550,776.32. The trade was a 14.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,815 shares of company stock worth $3,919,739. 12.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Mizuho raised their target price on Marriott International from $233.00 to $246.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Evercore ISI lifted their price objective on Marriott International from $245.00 to $270.00 and gave the stock an "in-line" rating in a research note on Monday, October 21st. Stifel Nicolaus raised their price target on shares of Marriott International from $252.00 to $283.00 and gave the stock a "hold" rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their price objective on shares of Marriott International from $238.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Finally, Barclays lifted their price objective on Marriott International from $249.00 to $286.00 and gave the stock an "equal weight" rating in a research report on Friday, December 13th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $269.65.

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.