Norges Bank Takes $62.16 Million Position in Travel + Leisure Co. $TNL

Norges Bank bought a new stake in shares of Travel + Leisure Co. (NYSE:TNL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 881,359 shares of the company’s stock, valued at approximately $62,162,000.

Several other hedge funds also recently bought and sold shares of TNL. Danske Bank A S purchased a new stake in Travel + Leisure in the 3rd quarter worth $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of Travel + Leisure in the fourth quarter valued at about $43,000. Geneos Wealth Management Inc. boosted its stake in shares of Travel + Leisure by 293.0% in the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $44,000 after acquiring an additional 715 shares during the period. CENTRAL TRUST Co grew its position in shares of Travel + Leisure by 181.5% during the third quarter. CENTRAL TRUST Co now owns 791 shares of the company’s stock worth $47,000 after purchasing an additional 510 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Travel + Leisure by 102.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 835 shares of the company’s stock worth $51,000 after purchasing an additional 422 shares during the period. Institutional investors own 87.54% of the company’s stock.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, insider Michael Dean Brown sold 9,443 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $79.11, for a total transaction of $747,035.73. Following the sale, the insider directly owned 487,303 shares in the company, valued at $38,550,540.33. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Denny Marie Post sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $63.83, for a total value of $159,575.00. Following the completion of the sale, the director directly owned 1,977 shares of the company’s stock, valued at $126,191.91. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,536 shares of company stock worth $2,113,247 in the last 90 days. 4.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TNL. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Oppenheimer reiterated an “outperform” rating and issued a $85.00 price target on shares of Travel + Leisure in a research note on Wednesday, February 18th. Wells Fargo & Company dropped their price objective on shares of Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. The Goldman Sachs Group upgraded Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Monday, June 1st. Finally, Weiss Ratings raised Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.40.

Travel + Leisure Stock Performance

TNL stock opened at $71.90 on Friday. The firm has a fifty day moving average price of $68.81 and a 200 day moving average price of $70.31. Travel + Leisure Co. has a fifty-two week low of $47.61 and a fifty-two week high of $81.00. The firm has a market cap of $4.49 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.14. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%. The company had revenue of $961.00 million for the quarter, compared to the consensus estimate of $954.81 million. During the same quarter in the prior year, the firm earned $1.11 earnings per share. Travel + Leisure’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that Travel + Leisure Co. will post 7.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, June 12th. Travel + Leisure’s dividend payout ratio is currently 67.42%.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.