Fifth Third Bancorp Raises Stake in Travel + Leisure Co. (NYSE:TNL)

Fifth Third Bancorp lifted its position in shares of Travel + Leisure Co. (NYSE:TNL) by 61.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,873 shares of the company’s stock after purchasing an additional 713 shares during the quarter. Fifth Third Bancorp’s holdings in Travel + Leisure were worth $87,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in Travel + Leisure during the fourth quarter worth approximately $25,000. Natixis purchased a new stake in Travel + Leisure during the 4th quarter worth $37,000. Smartleaf Asset Management LLC boosted its position in Travel + Leisure by 30.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. boosted its position in Travel + Leisure by 54.0% during the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company’s stock worth $54,000 after purchasing an additional 409 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Travel + Leisure by 333.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company’s stock worth $66,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Insider Transactions at Travel + Leisure

In related news, Director Denny Marie Post sold 5,500 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the sale, the director now directly owns 4,477 shares of the company’s stock, valued at $224,745.40. The trade was a 55.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.75% of the company’s stock.

Travel + Leisure Stock Performance

Shares of TNL opened at $48.99 on Friday. The company has a market capitalization of $3.25 billion, a P/E ratio of 8.18, a P/E/G ratio of 0.47 and a beta of 1.37. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $58.95. The stock has a 50-day moving average price of $47.23 and a 200 day moving average price of $49.88.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. Travel + Leisure had a net margin of 10.77% and a negative return on equity of 46.83%. The business had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. During the same quarter last year, the company earned $0.97 earnings per share. The business’s quarterly revenue was up 2.0% 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, June 13th. Travel + Leisure’s payout ratio is currently 37.40%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Barclays decreased their target price on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a research report on Thursday, April 24th. Morgan Stanley decreased their target price on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Tigress Financial upped their price target on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Truist Financial upped their price target on Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.20.

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.