Ethic Inc. Has $1.64 Million Position in Travel + Leisure Co. $TNL

Ethic Inc. lessened its stake in Travel + Leisure Co. (NYSE:TNL) by 29.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,463 shares of the company’s stock after selling 9,106 shares during the period. Ethic Inc.’s holdings in Travel + Leisure were worth $1,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TNL. Swiss Life Asset Management Ltd raised its position in shares of Travel + Leisure by 6.0% during the second quarter. Swiss Life Asset Management Ltd now owns 4,229 shares of the company’s stock worth $323,000 after acquiring an additional 241 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of Travel + Leisure by 3.9% in the second quarter. Baker Avenue Asset Management LP now owns 127,667 shares of the company’s stock worth $9,758,000 after acquiring an additional 4,828 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Travel + Leisure by 360.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,004 shares of the company’s stock valued at $1,070,000 after acquiring an additional 10,964 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in Travel + Leisure by 413.3% in the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company’s stock valued at $35,000 after acquiring an additional 372 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Travel + Leisure by 4.7% in the first quarter. Bank of America Corp DE now owns 204,503 shares of the company’s stock valued at $14,150,000 after acquiring an additional 9,193 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Analysts Set New Price Targets

TNL has been the subject of several analyst reports. Mizuho raised their price target on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Morgan Stanley upped their price objective on shares of Travel + Leisure from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Wall Street Zen cut shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Citigroup reissued a “market outperform” rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group upgraded shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $86.90.

Travel + Leisure Price Performance

NYSE TNL opened at $74.70 on Friday. The business has a 50 day simple moving average of $75.10 and a 200 day simple moving average of $72.00. Travel + Leisure Co. has a one year low of $57.86 and a one year high of $81.00. The stock has a market capitalization of $4.57 billion, a P/E ratio of 20.41, a P/E/G ratio of 0.51 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts expect that Travel + Leisure Co. will post 7.68 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. Travel + Leisure’s dividend payout ratio (DPR) is 65.57%.

Insider Activity

In related news, insider Kimberly Marshall sold 32,691 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total transaction of $2,451,825.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director George Herrera sold 500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the transaction, the director directly owned 1,353 shares in the company, valued at approximately $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 95,135 shares of company stock worth $7,022,699 in the last quarter. 4.01% of the stock is owned by corporate insiders.

Travel + Leisure 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.