Allianz Asset Management GmbH cut its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 16.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,963 shares of the company’s stock after selling 24,018 shares during the period. Allianz Asset Management GmbH owned 0.19% of Travel + Leisure worth $5,785,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Natixis acquired a new position in shares of Travel + Leisure in the fourth quarter valued at approximately $37,000. UMB Bank n.a. lifted its position in Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company’s stock valued at $54,000 after purchasing an additional 409 shares during the period. Rossby Financial LCC purchased a new stake in Travel + Leisure in the 1st quarter valued at approximately $55,000. Canada Pension Plan Investment Board increased its position in Travel + Leisure by 333.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company’s stock worth $66,000 after purchasing an additional 1,000 shares during the period. Finally, Capital Analysts LLC raised its stake in shares of Travel + Leisure by 16.8% during the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company’s stock worth $80,000 after buying an additional 227 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Travel + Leisure news, insider Kimberly Marshall sold 16,500 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total transaction of $990,000.00. Following the transaction, the insider owned 56,736 shares of the company’s stock, valued at $3,404,160. This represents a 22.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Geoffrey Richards sold 9,109 shares of Travel + Leisure stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $59.53, for a total value of $542,258.77. Following the completion of the sale, the insider directly owned 27,004 shares of the company’s stock, valued at approximately $1,607,548.12. This represents a 25.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,020 shares of company stock valued at $12,123,076. 3.75% of the stock is currently owned by insiders.
Travel + Leisure Price Performance
Shares of Travel + Leisure stock opened at $63.07 on Monday. The business has a 50 day moving average price of $52.47 and a 200 day moving average price of $50.55. The company has a market capitalization of $4.09 billion, a P/E ratio of 10.87, a P/E/G ratio of 0.60 and a beta of 1.38. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $63.28.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 earnings per share. As a group, research analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.
Travel + Leisure Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.55%. Travel + Leisure’s dividend payout ratio (DPR) is presently 38.62%.
Analysts Set New Price Targets
TNL has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $63.00 to $72.00 in a research note on Thursday. JMP Securities raised their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday. Barclays upped their target price on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price target on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Travel + Leisure presently has an average rating of “Moderate Buy” and an average price target of $62.30.
Get Our Latest Stock Report on TNL
About Travel + Leisure
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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