Legal & General Group Plc decreased its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,639 shares of the company’s stock after selling 8,400 shares during the quarter. Legal & General Group Plc owned approximately 0.16% of Travel + Leisure worth $5,481,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp bought a new position in Travel + Leisure during the fourth quarter valued at about $25,000. Versant Capital Management Inc increased its holdings in shares of Travel + Leisure by 49.2% during the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after acquiring an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Travel + Leisure by 314.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock valued at $33,000 after acquiring an additional 503 shares in the last quarter. UMB Bank n.a. lifted its holdings in Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Travel + Leisure by 30.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the period. Institutional investors own 87.54% of the company’s stock.
Travel + Leisure Trading Up 1.0 %
TNL opened at $41.42 on Monday. The stock has a market cap of $2.75 billion, a PE ratio of 7.09, a P/E/G ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $58.95. The stock’s 50 day simple moving average is $48.81 and its 200-day simple moving average is $50.67.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $958.87 million. During the same quarter in the prior year, the company posted $1.98 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.
Travel + Leisure Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.56 dividend. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Monday, March 17th. Travel + Leisure’s dividend payout ratio is currently 38.36%.
Wall Street Analysts Forecast Growth
TNL has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and upped their price target for the company from $40.00 to $60.00 in a report on Monday, January 27th. Mizuho reaffirmed a “neutral” rating and issued a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Barclays boosted their price objective on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley began coverage on Travel + Leisure in a report on Monday, January 6th. They issued an “overweight” rating and a $67.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.20.
Insider Transactions at Travel + Leisure
In other news, Director George Herrera sold 6,336 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the transaction, the director now directly owns 2,759 shares of the company’s stock, valued at $129,121.20. The trade was a 69.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Dean Brown purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the transaction, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.02% of the stock is currently owned by insiders.
Travel + Leisure Profile
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.
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