Advisors Capital Management LLC Increases Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Advisors Capital Management LLC increased its stake in Travel + Leisure Co. (NYSE:TNL) by 0.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 396,662 shares of the company’s stock after purchasing an additional 2,744 shares during the quarter. Advisors Capital Management LLC’s holdings in Travel + Leisure were worth $20,012,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Barclays PLC lifted its position in shares of Travel + Leisure by 80.4% in the third quarter. Barclays PLC now owns 225,326 shares of the company’s stock valued at $10,383,000 after acquiring an additional 100,440 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Travel + Leisure during the 4th quarter valued at about $1,288,000. Atlas Capital Advisors Inc. increased its holdings in shares of Travel + Leisure by 1,141.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 11,765 shares of the company’s stock worth $594,000 after purchasing an additional 10,817 shares during the last quarter. Amundi lifted its position in shares of Travel + Leisure by 22.8% in the fourth quarter. Amundi now owns 5,940 shares of the company’s stock worth $302,000 after buying an additional 1,103 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in Travel + Leisure during the third quarter valued at approximately $224,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 6,336 shares of the business’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 owns 2,759 shares of the company’s stock, valued at $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares in the company, valued at approximately $19,070,221.96. This 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on TNL shares. Truist Financial increased their target price on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Tigress Financial lifted their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and upped their target price for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Mizuho reiterated a “neutral” rating and issued a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Finally, Morgan Stanley began coverage on Travel + Leisure in a research report on Monday, January 6th. They set an “overweight” rating and a $67.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Travel + Leisure Stock Performance

Shares of NYSE:TNL opened at $41.37 on Friday. The firm has a market cap of $2.76 billion, a PE ratio of 7.08, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The firm’s 50 day simple moving average is $50.26 and its 200-day simple moving average is $50.80. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $58.95.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share 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 business had revenue of $971.00 million during the quarter, compared to analyst estimates of $958.87 million. During the same period in the previous year, the company posted $1.98 EPS. Travel + Leisure’s revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

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

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.