881,359 Shares in Travel + Leisure Co. $TNL Acquired by Norges Bank

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Travel + Leisure, buying 881,359 shares worth about $62.2 million and ending with roughly 1.37% ownership of the company.
• Travel + Leisure saw mixed insider activity: CFO Erik D. Hoag bought 1,000 shares, while Director Denny Marie Post sold 2,500 shares; insiders sold 27,536 shares over the last quarter overall.
• Analysts remain broadly bullish, with 10 Buy ratings and a consensus Moderate Buy target of $85.40; the company also reported quarterly earnings of $1.45 per share, beating estimates, and announced a $0.60 quarterly dividend.

Norges Bank acquired a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 881,359 shares of the company's stock, valued at approximately $62,162,000. Norges Bank owned approximately 1.37% of Travel + Leisure at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Travel + Leisure by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,790 shares of the company's stock worth $408,000 after purchasing an additional 148 shares during the last quarter. Rossby Financial LCC boosted its position in shares of Travel + Leisure by 13.1% during the third quarter. Rossby Financial LCC now owns 1,408 shares of the company's stock valued at $85,000 after buying an additional 163 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Travel + Leisure by 19.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,148 shares of the company's stock worth $59,000 after buying an additional 189 shares in the last quarter. Signaturefd LLC increased its holdings in Travel + Leisure by 17.8% in the 4th quarter. Signaturefd LLC now owns 1,276 shares of the company's stock worth $90,000 after buying an additional 193 shares in the last quarter. Finally, Vident Advisory LLC raised its position in Travel + Leisure by 3.7% in the 3rd quarter. Vident Advisory LLC now owns 5,595 shares of the company's stock worth $333,000 after buying an additional 202 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Erik D. Hoag bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average cost of $65.67 per share, with a total value of $65,670.00. Following the acquisition, the chief financial officer owned 1,000 shares in the company, valued at $65,670. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denny Marie Post sold 2,500 shares of Travel + Leisure stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $63.83, for a total value of $159,575.00. Following the transaction, the director owned 1,977 shares in the company, valued at $126,191.91. This trade represents a 55.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 27,536 shares of company stock valued at $2,113,247. Company insiders own 4.01% of the company's stock.

Wall Street Analyst Weigh In

TNL has been the topic of several research analyst reports. Citizens Jmp raised their price target on shares of Travel + Leisure from $80.00 to $90.00 and gave the company a "market outperform" rating in a report on Thursday, February 19th. Citigroup reissued an "outperform" rating on shares of Travel + Leisure in a report on Thursday, February 19th. Oppenheimer restated an "outperform" rating and set a $85.00 price objective on shares of Travel + Leisure in a research report on Wednesday, February 18th. Morgan Stanley cut their target price on shares of Travel + Leisure from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Tuesday, May 12th. Finally, The Goldman Sachs Group upgraded shares of Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research note on Monday, June 1st. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Travel + Leisure has a consensus rating of "Moderate Buy" and an average price target of $85.40.

Travel + Leisure Stock Up 1.8%

Shares of NYSE:TNL opened at $71.90 on Friday. The stock has a market capitalization of $4.49 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17. The firm's 50 day moving average price is $68.81 and its 200-day moving average price is $70.31. Travel + Leisure Co. has a twelve month low of $47.61 and a twelve month high of $81.00.

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

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, June 12th. Travel + Leisure's dividend payout ratio is 67.42%.

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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