Dai ichi Life Insurance Company Ltd Boosts Holdings in Marriott International, Inc. (NASDAQ:MAR)

Dai ichi Life Insurance Company Ltd lifted its stake in Marriott International, Inc. (NASDAQ:MAR) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,190 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Marriott International were worth $3,776,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC lifted its position in Marriott International by 7.9% during the 1st quarter. Quent Capital LLC now owns 644 shares of the company’s stock valued at $162,000 after acquiring an additional 47 shares during the period. SVB Wealth LLC lifted its position in Marriott International by 2.8% during the 1st quarter. SVB Wealth LLC now owns 1,891 shares of the company’s stock valued at $477,000 after acquiring an additional 52 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Marriott International by 1.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,396 shares of the company’s stock valued at $3,380,000 after acquiring an additional 186 shares during the period. Hancock Whitney Corp lifted its position in Marriott International by 4.8% during the 1st quarter. Hancock Whitney Corp now owns 2,494 shares of the company’s stock valued at $629,000 after acquiring an additional 114 shares during the period. Finally, New Covenant Trust Company N.A. purchased a new position in Marriott International during the 1st quarter valued at about $44,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marriott International

In other Marriott International news, insider William P. Brown sold 1,707 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $284.30, for a total value of $485,300.10. Following the completion of the transaction, the insider now directly owns 23,077 shares in the company, valued at $6,560,791.10. This represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Felitia Lee sold 916 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total value of $253,255.68. Following the completion of the transaction, the chief accounting officer now owns 5,609 shares of the company’s stock, valued at $1,550,776.32. The trade was a 14.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,815 shares of company stock worth $3,919,739. 10.07% of the stock is owned by company insiders.

Marriott International Stock Performance

NASDAQ MAR opened at $288.18 on Wednesday. The business’s fifty day moving average is $264.04 and its 200 day moving average is $244.14. The company has a market capitalization of $80.08 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 5.67 and a beta of 1.58. Marriott International, Inc. has a fifty-two week low of $200.94 and a fifty-two week high of $289.80.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.11 earnings per share. On average, sell-side analysts forecast that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.87%. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Analyst Ratings Changes

MAR has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Mizuho raised their price objective on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. BMO Capital Markets raised their price objective on shares of Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Morgan Stanley reduced their price objective on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Truist Financial reduced their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $260.20.

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.