Principal Financial Group Inc. Reduces Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Principal Financial Group Inc. decreased its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,442 shares of the company’s stock after selling 5,196 shares during the quarter. Principal Financial Group Inc.’s holdings in Marriott International were worth $72,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MAR. Allspring Global Investments Holdings LLC lifted its holdings in shares of Marriott International by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 14,843 shares of the company’s stock valued at $3,690,000 after purchasing an additional 274 shares in the last quarter. Whittier Trust Co. lifted its stake in Marriott International by 4.8% in the 3rd quarter. Whittier Trust Co. now owns 6,854 shares of the company’s stock valued at $1,704,000 after buying an additional 314 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Marriott International by 15.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 494 shares of the company’s stock valued at $123,000 after buying an additional 67 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Marriott International by 3.9% in the third quarter. Raleigh Capital Management Inc. now owns 1,855 shares of the company’s stock worth $461,000 after acquiring an additional 70 shares during the last quarter. Finally, Telos Capital Management Inc. lifted its position in shares of Marriott International by 10.2% in the third quarter. Telos Capital Management Inc. now owns 1,082 shares of the company’s stock valued at $269,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Down 0.3 %

Marriott International stock opened at $287.56 on Thursday. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The firm has a market capitalization of $79.28 billion, a P/E ratio of 34.56, a PEG ratio of 3.38 and a beta of 1.57. The firm has a fifty day moving average of $283.98 and a 200-day moving average of $264.13.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) 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%. On average, research analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s payout ratio is 30.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial boosted their target price on shares of Marriott International from $277.00 to $308.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. UBS Group upped their price objective on shares of Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on shares of Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Stifel Nicolaus lifted their price objective on Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $284.05.

Insider Buying and Selling

In other Marriott International news, insider William P. Brown sold 1,707 shares of the firm’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 transaction of $485,300.10. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.07% of the stock is currently owned by insiders.

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.