Fifth Third Bancorp Reduces Holdings in Travel + Leisure Co. $TNL

Fifth Third Bancorp trimmed its stake in Travel + Leisure Co. (NYSE:TNL) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,635 shares of the company’s stock after selling 238 shares during the period. Fifth Third Bancorp’s holdings in Travel + Leisure were worth $84,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TNL. Two Sigma Investments LP lifted its position in shares of Travel + Leisure by 5.6% in the 4th quarter. Two Sigma Investments LP now owns 21,306 shares of the company’s stock worth $1,075,000 after purchasing an additional 1,133 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Travel + Leisure by 1.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,955 shares of the company’s stock worth $2,016,000 after purchasing an additional 693 shares during the period. GAMMA Investing LLC lifted its position in shares of Travel + Leisure by 5,758.6% in the 1st quarter. GAMMA Investing LLC now owns 94,617 shares of the company’s stock worth $4,380,000 after purchasing an additional 93,002 shares during the period. Rhumbline Advisers lifted its position in shares of Travel + Leisure by 0.9% in the 1st quarter. Rhumbline Advisers now owns 204,264 shares of the company’s stock worth $9,455,000 after purchasing an additional 1,841 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in shares of Travel + Leisure in the 1st quarter worth about $261,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Travel + Leisure

In other news, insider Geoffrey Richards sold 124,454 shares of Travel + Leisure stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $62.56, for a total value of $7,785,842.24. Following the completion of the sale, the insider directly owned 118,718 shares in the company, valued at $7,426,998.08. The trade was a 51.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George Herrera sold 2,200 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total transaction of $133,056.00. Following the completion of the sale, the director owned 559 shares of the company’s stock, valued at $33,808.32. This represents a 79.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,174 shares of company stock valued at $19,765,874. Company insiders own 3.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TNL shares. Wall Street Zen raised shares of Travel + Leisure from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Barclays lifted their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, July 24th. Finally, JMP Securities lifted their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.30.

Travel + Leisure Stock Performance

NYSE:TNL opened at $60.11 on Thursday. The firm has a market cap of $3.90 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.58 and a beta of 1.47. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $64.11. The firm has a 50-day simple moving average of $61.09 and a two-hundred day simple moving average of $52.95.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 earnings per share. On average, equities research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

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

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.