Alliancebernstein L.P. Sells 8,882 Shares of Travel + Leisure Co. (NYSE:TNL)

Alliancebernstein L.P. decreased its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 5.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 151,081 shares of the company's stock after selling 8,882 shares during the period. Alliancebernstein L.P. owned approximately 0.22% of Travel + Leisure worth $7,622,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TNL. Everstar Asset Management LLC boosted its stake in shares of Travel + Leisure by 6.5% during the fourth quarter. Everstar Asset Management LLC now owns 8,931 shares of the company's stock valued at $451,000 after purchasing an additional 546 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Travel + Leisure by 77.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,197 shares of the company's stock valued at $414,000 after purchasing an additional 3,570 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new position in Travel + Leisure during the 4th quarter valued at approximately $215,000. Arrowstreet Capital Limited Partnership lifted its holdings in Travel + Leisure by 10.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 814,319 shares of the company's stock worth $41,082,000 after buying an additional 79,922 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of Travel + Leisure by 19.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,271 shares of the company's stock worth $518,000 after buying an additional 1,638 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Stock Performance

Shares of Travel + Leisure stock traded up $0.71 during midday trading on Thursday, hitting $41.72. The company had a trading volume of 102,713 shares, compared to its average volume of 621,504. The company has a 50 day moving average of $49.36 and a 200 day moving average of $50.67. The stock has a market capitalization of $2.78 billion, a P/E ratio of 7.16, a P/E/G ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. During the same period last year, the company earned $1.98 earnings per share. The company's revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.37%. The ex-dividend date was Monday, March 17th. This is an increase from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's dividend payout ratio is currently 38.36%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Tigress Financial raised their price target on Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Barclays raised their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Bank of America raised shares of Travel + Leisure from an "underperform" rating to a "buy" rating and lifted their target price for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Morgan Stanley assumed coverage on shares of Travel + Leisure in a report on Monday, January 6th. They issued an "overweight" rating and a $67.00 price objective for the company. Finally, Truist Financial upped their target price on Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $62.20.

Insider Activity

In other news, Director George Herrera sold 6,336 shares of the company's 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 transaction, the director now directly owns 2,759 shares of the company's stock, valued at $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.02% of the company's stock.

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.