American International Group Inc. reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,116 shares of the company’s stock after selling 1,968 shares during the quarter. American International Group Inc. owned about 0.13% of Travel + Leisure worth $4,706,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Seven Eight Capital LP raised its stake in shares of Travel + Leisure by 20.6% during the first quarter. Seven Eight Capital LP now owns 21,029 shares of the company’s stock valued at $1,030,000 after purchasing an additional 3,586 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Travel + Leisure during the first quarter worth about $4,739,000. State Board of Administration of Florida Retirement System grew its holdings in Travel + Leisure by 11.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 117,640 shares of the company’s stock worth $5,760,000 after acquiring an additional 11,847 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Travel + Leisure by 3.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,114 shares of the company’s stock worth $3,286,000 after acquiring an additional 2,512 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Travel + Leisure by 30.1% during the first quarter. Russell Investments Group Ltd. now owns 353,633 shares of the company’s stock worth $17,313,000 after acquiring an additional 81,817 shares during the period. 87.54% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on TNL shares. Barclays lifted their target price on Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.75.
Check Out Our Latest Stock Report on Travel + Leisure
Travel + Leisure Trading Up 1.3 %
Shares of TNL opened at $45.86 on Friday. The business’s 50-day moving average price is $44.89 and its 200 day moving average price is $44.26. The stock has a market capitalization of $3.20 billion, a P/E ratio of 8.45, a P/E/G ratio of 2.56 and a beta of 1.63. Travel + Leisure Co. has a 1-year low of $32.10 and a 1-year high of $49.91.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The firm had revenue of $985.00 million during the quarter, compared to analyst estimates of $987.20 million. During the same period last year, the company posted $1.33 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Travel + Leisure Co. will post 5.61 earnings per share for the current year.
Travel + Leisure Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. Travel + Leisure’s payout ratio is presently 36.83%.
Travel + Leisure Company 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.
Further Reading
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