Travel + Leisure Co. (NYSE:TNL) Position Reduced by Arizona State Retirement System

Arizona State Retirement System cut its position in shares of Travel + Leisure Co. (NYSE:TNL) by 4.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,665 shares of the company’s stock after selling 1,060 shares during the period. Arizona State Retirement System’s holdings in Travel + Leisure were worth $808,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Travel + Leisure by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,255,690 shares of the company’s stock valued at $376,691,000 after purchasing an additional 322,624 shares during the period. BlackRock Inc. increased its holdings in shares of Travel + Leisure by 13.9% in the 1st 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 period. Invesco Ltd. increased its holdings in Travel + Leisure by 11.8% in the first quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock worth $350,980,000 after buying an additional 636,968 shares during the last quarter. State Street Corp increased its holdings in Travel + Leisure by 3.0% in the second quarter. State Street Corp now owns 2,515,891 shares of the company’s stock worth $97,667,000 after buying an additional 74,254 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Travel + Leisure by 34.7% in the third quarter. AQR Capital Management LLC now owns 1,737,814 shares of the company’s stock worth $63,830,000 after buying an additional 447,938 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insider Activity

In other Travel + Leisure news, insider James J. Savina sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the transaction, the insider now directly owns 15,860 shares in the company, valued at $716,554.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Travel + Leisure news, insider James J. Savina sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the transaction, the insider now directly owns 15,860 shares in the company, valued at $716,554.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Herrera sold 2,969 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $45.33, for a total value of $134,584.77. Following the transaction, the director now owns 2,193 shares of the company’s stock, valued at $99,408.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,922 shares of company stock valued at $1,318,358. 4.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on TNL. Mizuho began coverage on Travel + Leisure in a report on Tuesday, March 26th. They issued a “neutral” rating and a $55.00 price objective on the stock. Truist Financial increased their price objective on Travel + Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Barclays increased their price target on Travel + Leisure from $37.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. JMP Securities started coverage on Travel + Leisure in a report on Tuesday, February 13th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Jefferies Financial Group upgraded Travel + Leisure from a “hold” rating to a “buy” rating and increased their price target for the company from $37.00 to $57.00 in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.29.

Travel + Leisure Stock Down 0.5 %

Shares of TNL stock opened at $43.55 on Thursday. Travel + Leisure Co. has a 12 month low of $32.10 and a 12 month high of $49.02. The company has a market cap of $3.10 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63. The business’s 50 day moving average is $45.05 and its two-hundred day moving average is $40.09.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.61. Travel + Leisure had a negative return on equity of 43.77% and a net margin of 10.59%. The company had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $946.56 million. During the same period in the prior year, the business earned $1.30 earnings per share. Travel + Leisure’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts expect that Travel + Leisure Co. will post 5.4 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.59%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 20th. Travel + Leisure’s dividend payout ratio is currently 37.59%.

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.