Envestnet Asset Management Inc. cut its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Get Rating) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,702 shares of the company’s stock after selling 9,715 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of Travel + Leisure worth $4,212,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Travel + Leisure by 13.9% in the first quarter. BlackRock Inc. now owns 9,806,796 shares of the company’s stock valued at $568,206,000 after purchasing an additional 1,197,611 shares during the last quarter. GMT Capital Corp increased its holdings in Travel + Leisure by 35.9% in the fourth quarter. GMT Capital Corp now owns 3,651,641 shares of the company’s stock valued at $132,920,000 after purchasing an additional 964,300 shares during the period. Invesco Ltd. grew its holdings in Travel + Leisure by 11.8% during the 1st quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock worth $350,980,000 after acquiring an additional 636,968 shares during the period. Millennium Management LLC grew its holdings in Travel + Leisure by 170.1% during the 2nd quarter. Millennium Management LLC now owns 544,937 shares of the company’s stock worth $21,154,000 after acquiring an additional 343,183 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Travel + Leisure by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,936,964 shares of the company’s stock worth $304,930,000 after acquiring an additional 227,175 shares during the period. 88.54% of the stock is currently owned by institutional investors.
Insider Transactions at Travel + Leisure
In other news, Director George Herrera sold 2,069 shares of Travel + Leisure stock in a transaction on Friday, March 17th. The shares were sold at an average price of $37.53, for a total transaction of $77,649.57. Following the transaction, the director now owns 5,838 shares in the company, valued at approximately $219,100.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Olivier Chavy sold 2,650 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $37.51, for a total value of $99,401.50. Following the sale, the insider now directly owns 12,411 shares in the company, valued at approximately $465,536.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George Herrera sold 2,069 shares of the business’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $37.53, for a total transaction of $77,649.57. Following the completion of the sale, the director now owns 5,838 shares in the company, valued at $219,100.14. The disclosure for this sale can be found here. Insiders have sold 12,619 shares of company stock worth $477,409 in the last 90 days. 2.07% of the stock is currently owned by insiders.
Travel + Leisure Stock Down 1.1 %
Travel + Leisure (NYSE:TNL – Get Rating) last announced its earnings results on Wednesday, April 26th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $879.00 million during the quarter, compared to the consensus estimate of $840.65 million. Travel + Leisure had a net margin of 10.17% and a negative return on equity of 43.00%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. Equities analysts expect that Travel + Leisure Co. will post 5.4 earnings per share for the current fiscal year.
Travel + Leisure Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were issued a $0.45 dividend. The ex-dividend date was Tuesday, March 14th. This represents a $1.80 annualized dividend and a yield of 5.08%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.40. Travel + Leisure’s dividend payout ratio (DPR) is currently 40.27%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on TNL. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Travel + Leisure from $69.00 to $62.00 in a research report on Thursday, April 27th. Jefferies Financial Group lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating and decreased their price target for the stock from $71.00 to $49.00 in a research note on Friday, February 3rd. Bank of America assumed coverage on shares of Travel + Leisure in a report on Monday, April 17th. They set an “underperform” rating and a $42.00 target price on the stock. Finally, Credit Suisse Group upped their price target on shares of Travel + Leisure from $31.00 to $36.00 and gave the stock an “underperform” rating in a report on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.43.
Travel + Leisure Company Profile
Travel + Leisure Co is a membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. It operates through Vacation Ownership and Travel and Membership segments. The Vacation Ownership segment is involved in developing, marketing, and selling vacation ownership interests to individual consumers, providing consumer financing in connection with the sale of vacation ownership interests, and providing property management services at resorts.
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