Corebridge Financial Inc. Has $20.90 Million Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Corebridge Financial Inc. decreased its holdings in Marriott International, Inc. (NASDAQ:MAR) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,923 shares of the company’s stock after selling 1,278 shares during the quarter. Corebridge Financial Inc.’s holdings in Marriott International were worth $20,899,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC increased its stake in shares of Marriott International by 10.8% in the third quarter. Larson Financial Group LLC now owns 379 shares of the company’s stock valued at $94,000 after buying an additional 37 shares during the period. TFG Advisers LLC increased its position in Marriott International by 0.8% during the 4th quarter. TFG Advisers LLC now owns 4,426 shares of the company’s stock valued at $1,235,000 after purchasing an additional 37 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Marriott International by 1.2% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,290 shares of the company’s stock worth $918,000 after purchasing an additional 38 shares during the last quarter. Evermay Wealth Management LLC lifted its position in shares of Marriott International by 1.1% in the 4th quarter. Evermay Wealth Management LLC now owns 3,415 shares of the company’s stock worth $953,000 after purchasing an additional 38 shares during the period. Finally, Essex Financial Services Inc. boosted its stake in shares of Marriott International by 1.3% in the 4th quarter. Essex Financial Services Inc. now owns 3,004 shares of the company’s stock valued at $838,000 after purchasing an additional 39 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Price Performance

MAR stock opened at $242.92 on Tuesday. The company has a market capitalization of $66.97 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The business has a 50 day simple moving average of $274.94 and a two-hundred day simple moving average of $270.47.

Marriott International (NASDAQ:MAR) last announced its quarterly 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 net margin of 9.46% and a negative return on equity of 116.67%. Sell-side analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s payout ratio is 30.29%.

Insider Activity

In related news, Director Susan C. Schwab sold 1,054 shares of Marriott International stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $277.48, for a total transaction of $292,463.92. Following the completion of the transaction, the director now directly owns 4,551 shares of the company’s stock, valued at approximately $1,262,811.48. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rena Hozore Reiss sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $286.65, for a total value of $1,003,275.00. Following the transaction, the executive vice president now owns 24,733 shares of the company’s stock, valued at $7,089,714.45. This trade represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,694 shares of company stock worth $8,938,132. 12.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAR. 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. Morgan Stanley raised their target price on Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Barclays cut their price target on Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price 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. Finally, Jefferies Financial Group raised their price target on shares of Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a report on Thursday, January 2nd. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Marriott International presently has an average rating of “Hold” and a consensus target price of $286.05.

Marriott International 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.