31,626 Shares in Travel + Leisure Co. $TNL Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. opened a new stake in Travel + Leisure, buying 31,626 shares valued at about $2.23 million in the fourth quarter. Institutional ownership remains very high, with hedge funds and other investors holding 87.54% of the stock.
• Travel + Leisure reported better-than-expected quarterly results, posting EPS of $1.45 versus the $1.31 estimate and revenue of $961 million, slightly above forecasts. Revenue also rose 2.9% year over year.
• The company raised its quarterly dividend to $0.60 per share from $0.56, implying an annualized dividend of $2.40 and a 3.7% yield. Analysts currently view the stock as a Moderate Buy with a consensus target price of $85.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,626 shares of the company's stock, valued at approximately $2,231,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Travel + Leisure by 231.1% during the third quarter. Envestnet Asset Management Inc. now owns 691,599 shares of the company's stock worth $41,143,000 after buying an additional 482,731 shares during the period. Compass Wealth Management LLC acquired a new position in Travel + Leisure during the third quarter worth approximately $1,707,000. JPMorgan Chase & Co. increased its position in Travel + Leisure by 15.3% during the third quarter. JPMorgan Chase & Co. now owns 354,598 shares of the company's stock worth $21,096,000 after buying an additional 47,170 shares during the period. ING Groep NV increased its position in Travel + Leisure by 115.0% during the third quarter. ING Groep NV now owns 63,000 shares of the company's stock worth $3,748,000 after buying an additional 33,700 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Travel + Leisure during the fourth quarter worth approximately $11,657,000. Hedge funds and other institutional investors own 87.54% of the company's stock.

Insider Buying and Selling

In other news, insider Amandine Robin-Caplan sold 3,904 shares of the business's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $74.61, for a total value of $291,277.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George Herrera sold 1,748 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $70.31, for a total value of $122,901.88. Following the completion of the transaction, the director directly owned 1,853 shares in the company, valued at approximately $130,284.43. The trade was a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 124,238 shares of company stock worth $9,295,629. 4.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on TNL shares. Stifel Nicolaus set a $89.00 price target on Travel + Leisure in a research report on Wednesday, February 18th. Mizuho cut their price target on Travel + Leisure from $107.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $85.00 price target on shares of Travel + Leisure in a research report on Wednesday, February 18th. Wells Fargo & Company cut their price target on Travel + Leisure from $88.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Finally, Citizens Jmp lifted their price target on Travel + Leisure from $80.00 to $90.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 19th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.

Travel + Leisure Trading Up 3.6%

NYSE:TNL opened at $64.98 on Thursday. The firm has a market cap of $4.06 billion, a P/E ratio of 18.25, a PEG ratio of 0.48 and a beta of 1.17. The stock's 50 day simple moving average is $69.26 and its 200-day simple moving average is $69.93. Travel + Leisure Co. has a 12-month low of $46.75 and a 12-month high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.14. The business had revenue of $961.00 million for the quarter, compared to analyst estimates of $954.81 million. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. Research analysts forecast that Travel + Leisure Co. will post 7.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 20th. This is an increase from Travel + Leisure's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. Travel + Leisure's dividend payout ratio is presently 67.42%.

Travel + Leisure Company 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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