PNC Financial Services Group Inc. Sells 900 Shares of Travel + Leisure Co. (NYSE:TNL)

PNC Financial Services Group Inc. lessened its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 13.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,825 shares of the company’s stock after selling 900 shares during the period. PNC Financial Services Group Inc.’s holdings in Travel + Leisure were worth $270,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TNL. LSV Asset Management grew its holdings in Travel + Leisure by 37.7% during the 1st quarter. LSV Asset Management now owns 956,109 shares of the company’s stock worth $44,258,000 after acquiring an additional 261,528 shares during the period. Nuveen Asset Management LLC grew its holdings in Travel + Leisure by 25.1% during the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company’s stock worth $45,299,000 after acquiring an additional 180,059 shares during the period. Voloridge Investment Management LLC acquired a new stake in Travel + Leisure during the 4th quarter worth $6,304,000. Millennium Management LLC grew its holdings in Travel + Leisure by 167.8% during the 4th quarter. Millennium Management LLC now owns 180,160 shares of the company’s stock worth $9,089,000 after acquiring an additional 112,883 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Travel + Leisure by 5,758.6% during the 1st quarter. GAMMA Investing LLC now owns 94,617 shares of the company’s stock worth $4,380,000 after acquiring an additional 93,002 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Trading Down 0.9%

Shares of NYSE TNL opened at $60.15 on Friday. The firm has a market cap of $3.90 billion, a PE ratio of 10.37, a PEG ratio of 0.58 and a beta of 1.43. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $63.31. The company has a fifty day moving average price of $55.86 and a 200 day moving average price of $51.35.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. Travel + Leisure’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Equities research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.7%. Travel + Leisure’s dividend payout ratio is presently 38.62%.

Insider Transactions at Travel + Leisure

In related news, Director George Herrera sold 2,200 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total value of $133,056.00. Following the completion of the transaction, the director directly owned 559 shares of the company’s stock, valued at approximately $33,808.32. This represents a 79.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Myers sold 110,885 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the completion of the transaction, the insider directly owned 142,553 shares of the company’s stock, valued at approximately $8,885,328.49. The trade was a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,174 shares of company stock worth $19,765,874. Company insiders own 3.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on TNL shares. Barclays lifted their target price on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an “underweight” rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Travel + Leisure from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Morgan Stanley decreased their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $63.00 to $72.00 in a report on Thursday, July 24th. Finally, JMP Securities boosted their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus price target of $62.30.

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.