Russell Investments Group Ltd. lifted its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 32.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,816 shares of the company’s stock after purchasing an additional 67,214 shares during the period. Russell Investments Group Ltd.’s holdings in Travel + Leisure were worth $10,626,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of Travel + Leisure by 3.3% during the third quarter. Raymond James & Associates now owns 30,229 shares of the company’s stock worth $1,110,000 after buying an additional 955 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Travel + Leisure by 10.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,692 shares of the company’s stock worth $576,000 after purchasing an additional 1,511 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Travel + Leisure during the third quarter worth about $223,000. Allspring Global Investments Holdings LLC raised its stake in shares of Travel + Leisure by 154,414.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,816 shares of the company’s stock worth $397,000 after purchasing an additional 10,809 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Travel + Leisure by 42.8% in the 3rd quarter. Fifth Third Bancorp now owns 2,033 shares of the company’s stock worth $75,000 after acquiring an additional 609 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.
Insider Transactions at Travel + Leisure
In other Travel + Leisure news, insider Kimberly Marshall sold 4,953 shares of the company’s stock in a transaction that occurred on Sunday, March 10th. The stock was sold at an average price of $45.24, for a total transaction of $224,073.72. Following the completion of the transaction, the insider now owns 54,657 shares of the company’s stock, valued at approximately $2,472,682.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Travel + Leisure news, insider James J. Savina sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $47.00, for a total value of $282,000.00. Following the sale, the insider now owns 26,442 shares in the company, valued at $1,242,774. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kimberly Marshall sold 4,953 shares of the stock in a transaction on Sunday, March 10th. The shares were sold at an average price of $45.24, for a total value of $224,073.72. Following the completion of the sale, the insider now owns 54,657 shares of the company’s stock, valued at $2,472,682.68. The disclosure for this sale can be found here. Insiders have sold a total of 28,922 shares of company stock valued at $1,318,358 over the last 90 days. 4.02% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Barclays upped their target price on shares of Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Mizuho started coverage on shares of Travel + Leisure in a research report on Tuesday, March 26th. They set a “neutral” rating and a $55.00 price target for the company. Truist Financial increased their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, JMP Securities assumed coverage on Travel + Leisure in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.
Check Out Our Latest Stock Analysis on Travel + Leisure
Travel + Leisure Stock Performance
NYSE:TNL opened at $44.70 on Monday. Travel + Leisure Co. has a 52 week low of $32.10 and a 52 week high of $49.02. The stock’s 50 day moving average price is $45.72 and its 200 day moving average price is $41.01. The company has a market capitalization of $3.19 billion, a P/E ratio of 8.23, a P/E/G ratio of 2.51 and a beta of 1.63.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its earnings results on Wednesday, April 24th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $904.54 million. Travel + Leisure had a negative return on equity of 44.34% and a net margin of 10.54%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $0.89 earnings per share. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 5.52 earnings per share for the current fiscal year.
Travel + Leisure Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Wednesday, March 20th. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.45. Travel + Leisure’s dividend payout ratio is presently 36.83%.
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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