Travel + Leisure Co. (NYSE:TNL) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Travel + Leisure Co. (NYSE:TNL) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 53,896 shares of the company’s stock after selling 2,419 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Travel + Leisure were worth $2,719,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in Travel + Leisure in the 4th quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Travel + Leisure by 314.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock valued at $33,000 after purchasing an additional 503 shares during the period. Natixis acquired a new position in Travel + Leisure during the 4th quarter worth $37,000. UMB Bank n.a. increased its holdings in Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock valued at $39,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insiders Place Their Bets

In related news, Director George Herrera sold 6,336 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the sale, the director now directly owns 2,759 shares of the company’s stock, valued at $129,121.20. This trade represents a 69.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Dean Brown acquired 2,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the purchase, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. 3.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Tigress Financial boosted their target price 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. Truist Financial raised their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Barclays dropped their price objective on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.20.

Travel + Leisure Stock Down 0.6 %

NYSE:TNL opened at $47.72 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of 8.17, a P/E/G ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $58.95. The stock’s 50 day moving average price is $45.49 and its 200 day moving average price is $50.49.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The firm had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $933.08 million. During the same quarter in the prior year, the business earned $0.97 EPS. Travel + Leisure’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 4.69%. Travel + Leisure’s dividend payout ratio is currently 37.40%.

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.