JPMorgan Chase & Co. Sells 4,128 Shares of Travel + Leisure Co. (NYSE:TNL)

JPMorgan Chase & Co. lowered its holdings in Travel + Leisure Co. (NYSE:TNL) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 363,108 shares of the company’s stock after selling 4,128 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of Travel + Leisure worth $18,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LPL Financial LLC increased its holdings in Travel + Leisure by 1.2% during the 4th quarter. LPL Financial LLC now owns 37,983 shares of the company’s stock worth $1,916,000 after purchasing an additional 468 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Travel + Leisure during the fourth quarter valued at approximately $714,000. KLP Kapitalforvaltning AS bought a new stake in Travel + Leisure during the fourth quarter worth $752,000. Sei Investments Co. grew its holdings in Travel + Leisure by 8.2% during the fourth quarter. Sei Investments Co. now owns 200,492 shares of the company’s stock worth $10,115,000 after buying an additional 15,126 shares in the last quarter. Finally, Summit Global Investments raised its position in Travel + Leisure by 98.0% in the 4th quarter. Summit Global Investments now owns 18,375 shares of the company’s stock valued at $927,000 after buying an additional 9,093 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

Analyst Upgrades and Downgrades

TNL has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Tigress Financial boosted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Morgan Stanley assumed coverage on shares of Travel + Leisure in a research report on Monday, January 6th. They issued an “overweight” rating and a $67.00 price objective for the company. Mizuho reissued a “neutral” rating and set a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Finally, Truist Financial upped their target price on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.70.

Travel + Leisure Trading Up 0.4 %

Travel + Leisure stock opened at $41.37 on Friday. The business’s 50 day simple moving average is $50.26 and its 200 day simple moving average is $50.80. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 0.67 and a beta of 1.40.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm had revenue of $971.00 million for the quarter, compared to analysts’ expectations of $958.87 million. During the same quarter in the prior year, the firm earned $1.98 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.56 dividend. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, March 17th. This represents a $2.24 annualized dividend and a dividend yield of 5.41%. Travel + Leisure’s dividend payout ratio (DPR) is presently 38.36%.

Insider Activity

In other news, Director George Herrera sold 6,336 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares in the company, valued at approximately $129,121.20. This trade represents a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.02% of the company’s stock.

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.