Wright Investors Service Inc. Lowers Stock Position in Travel + Leisure Co. (NYSE:TNL)

Wright Investors Service Inc. cut its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,119 shares of the company’s stock after selling 4,403 shares during the period. Wright Investors Service Inc.’s holdings in Travel + Leisure were worth $1,060,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MBM Wealth Consultants LLC purchased a new position in Travel + Leisure in the 4th quarter valued at $245,000. Louisiana State Employees Retirement System purchased a new position in Travel + Leisure in the 4th quarter valued at $794,000. Round Rock Advisors LLC purchased a new position in Travel + Leisure in the 4th quarter valued at $366,000. International Assets Investment Management LLC grew its position in Travel + Leisure by 3,808.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,495 shares of the company’s stock valued at $176,000 after buying an additional 4,380 shares during the last quarter. Finally, Arlington Trust Co LLC purchased a new position in Travel + Leisure in the 4th quarter valued at $53,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays boosted their target price on shares of Travel + Leisure from $37.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Truist Financial boosted their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Jefferies Financial Group upgraded shares of Travel + Leisure from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $57.00 in a research report on Tuesday, January 2nd. Mizuho assumed coverage on shares of Travel + Leisure in a research report on Tuesday, March 26th. They set a “neutral” rating and a $55.00 target price on the stock. Finally, JMP Securities began coverage on shares of Travel + Leisure in a research report on Tuesday, February 13th. They set an “outperform” rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.29.

Insider Transactions at Travel + Leisure

In other news, insider James J. Savina sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the sale, the insider now owns 15,860 shares in the company, valued at approximately $716,554.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Travel + Leisure news, insider Kimberly Marshall sold 4,953 shares of the company’s stock in a transaction that occurred on Sunday, March 10th. The stock was sold at an average price of $45.24, for a total value of $224,073.72. Following the completion of the transaction, the insider now owns 54,657 shares in the company, valued at approximately $2,472,682.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James J. Savina sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total value of $677,700.00. Following the completion of the transaction, the insider now owns 15,860 shares of the company’s stock, valued at approximately $716,554.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,922 shares of company stock worth $1,318,358. 4.02% of the stock is currently owned by company insiders.

Travel + Leisure Trading Up 0.6 %

Shares of NYSE TNL traded up $0.28 on Thursday, reaching $43.85. 85,853 shares of the company traded hands, compared to its average volume of 531,940. Travel + Leisure Co. has a fifty-two week low of $32.10 and a fifty-two week high of $49.02. The company has a 50 day moving average of $45.05 and a 200 day moving average of $40.09. The stock has a market capitalization of $3.12 billion, a PE ratio of 8.19, a P/E/G ratio of 1.19 and a beta of 1.63.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.61. Travel + Leisure had a net margin of 10.59% and a negative return on equity of 43.77%. The company had revenue of $935.00 million during the quarter, compared to the consensus estimate of $946.56 million. During the same quarter in the prior year, the company posted $1.30 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts expect that Travel + Leisure Co. will post 5.4 earnings per share for the current year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.45. Travel + Leisure’s payout ratio is presently 37.59%.

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.