174,408 Shares in Travel + Leisure Co. $TNL Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 174,408 shares of Travel + Leisure, valued at approximately $13.33 million and representing about 0.28% of the company.
• Institutional investors own 87.54% of Travel + Leisure, while insiders sold 115,135 shares worth approximately $8.51 million over the past three months.
• Travel + Leisure reported quarterly revenue of $1.06 billion and EPS of $1.88, and declared a quarterly dividend of $0.60 per share, implying a 3.4% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $87.82.

Corient Private Wealth LP bought a new stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 174,408 shares of the company's stock, valued at approximately $13,330,000. Corient Private Wealth LP owned about 0.28% of Travel + Leisure as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TNL. Royal Bank of Canada boosted its stake in Travel + Leisure by 42.0% in the 1st quarter. Royal Bank of Canada now owns 91,184 shares of the company's stock worth $4,222,000 after purchasing an additional 26,965 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Travel + Leisure during the 1st quarter valued at $396,000. Millennium Management LLC raised its stake in Travel + Leisure by 129.5% during the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company's stock valued at $19,141,000 after purchasing an additional 233,345 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Travel + Leisure by 97.1% in the first quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company's stock valued at $9,271,000 after purchasing an additional 98,647 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Travel + Leisure in the first quarter valued at $206,000. Institutional investors and hedge funds own 87.54% of the company's stock.

Insider Buying and Selling at Travel + Leisure

In other news, Director George Herrera sold 500 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the sale, the director owned 1,353 shares in the company, valued at approximately $101,691.48. This represents a 26.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Michael Duncan sold 20,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total value of $1,483,200.00. Following the transaction, the chief accounting officer directly owned 5,307 shares in the company, valued at approximately $393,567.12. This represents a 79.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 115,135 shares of company stock valued at $8,505,899. Company insiders own 4.01% of the company's stock.

Travel + Leisure Stock Performance

NYSE:TNL opened at $71.27 on Friday. The stock's 50 day moving average price is $74.84 and its 200 day moving average price is $72.15. Travel + Leisure Co. has a 52 week low of $58.07 and a 52 week high of $81.00. The company has a market capitalization of $4.36 billion, a P/E ratio of 19.47, a P/E/G ratio of 0.48 and a beta of 1.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The company 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 firm posted $1.65 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 7.7 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. Travel + Leisure's dividend payout ratio is currently 65.57%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TNL shares. Barclays lifted their price target on Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Morgan Stanley raised their price objective on Travel + Leisure from $83.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 18th. Mizuho lifted their target price on Travel + Leisure from $105.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. The Goldman Sachs Group raised shares of Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research report on Monday, June 1st. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Travel + Leisure in a research report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Travel + Leisure presently has an average rating of "Moderate Buy" and a consensus price target of $87.82.

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.

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