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

Principal Financial Group Inc. decreased its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 255,039 shares of the company's stock after selling 3,403 shares during the quarter. Principal Financial Group Inc. owned about 0.09% of Marriott International worth $60,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Straightline Group LLC acquired a new position in shares of Marriott International in the fourth quarter valued at approximately $495,000. Markel Group Inc. boosted its stake in shares of Marriott International by 30.6% in the fourth quarter. Markel Group Inc. now owns 47,000 shares of the company's stock valued at $13,110,000 after buying an additional 11,000 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Marriott International in the fourth quarter valued at approximately $463,000. Sequoia Financial Advisors LLC boosted its stake in shares of Marriott International by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock valued at $3,202,000 after buying an additional 1,432 shares during the period. Finally, Haven Capital Group Inc. bought a new stake in shares of Marriott International in the fourth quarter valued at approximately $3,004,000. Institutional investors and hedge funds own 70.70% of the company's stock.

Insider Activity at Marriott International

In related news, insider Rajeev Menon sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider directly owned 5,706 shares of the company's stock, valued at $1,530,805.68. The trade was a 30.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the sale, the executive vice president directly owned 20,724 shares of the company's stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,107,710 in the last three months. Corporate insiders own 10.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Mizuho cut their price target on Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Barclays cut their target price on Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and upped their target price for the stock from $226.00 to $303.00 in a research note on Monday, May 12th. Truist Financial cut their target price on Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research note on Friday, May 30th. Finally, Morgan Stanley cut their target price on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Thirteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $275.90.

Marriott International Trading Down 0.8%

NASDAQ:MAR traded down $2.34 during trading hours on Monday, hitting $277.69. 152,064 shares of the company were exchanged, compared to its average volume of 1,588,892. The stock has a market capitalization of $76.06 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 3.45 and a beta of 1.41. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The company has a fifty day simple moving average of $262.62 and a 200 day simple moving average of $262.50.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the company posted $2.13 EPS. The business's quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.97%. This is a positive change from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. Marriott International's payout ratio is presently 30.52%.

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.