Acadian Asset Management LLC Increases Position in Travel + Leisure Co. $TNL

Key Points

• Acadian Asset Management LLC increased its stake in Travel + Leisure Co. by 16.9%, owning approximately 0.67% of the company valued at $20.74 million after obtaining an additional 64,762 shares in the first quarter.
• Travel + Leisure has received multiple upgrades from analysts, with Mizuho raising its target price from $63 to $72, while JMP Securities increased it from $60 to $70, signaling positive growth expectations.
• The company will pay a quarterly dividend of $0.56 per share on September 30th, which represents an annual yield of 3.5% and reflects a payout ratio of 38.62%.

Acadian Asset Management LLC lifted its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 16.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 448,280 shares of the company's stock after purchasing an additional 64,762 shares during the period. Acadian Asset Management LLC owned approximately 0.67% of Travel + Leisure worth $20,741,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TNL. AQR Capital Management LLC grew its stake in shares of Travel + Leisure by 28.3% in the first quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company's stock worth $83,241,000 after acquiring an additional 403,418 shares in the last quarter. Northern Trust Corp grew its stake in Travel + Leisure by 3.3% during the 1st quarter. Northern Trust Corp now owns 1,071,318 shares of the company's stock worth $49,591,000 after purchasing an additional 34,615 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Travel + Leisure by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company's stock worth $46,039,000 after purchasing an additional 79,430 shares in the last quarter. LSV Asset Management increased its holdings in Travel + Leisure by 37.7% during the 1st quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after purchasing an additional 261,528 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Travel + Leisure by 25.1% in the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock valued at $45,299,000 after purchasing an additional 180,059 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on TNL. JMP Securities boosted their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Wall Street Zen cut Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Barclays lifted their price target on Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. Finally, Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.30.

Travel + Leisure Trading Down 0.2%

Shares of NYSE:TNL traded down $0.11 during midday trading on Wednesday, hitting $61.55. 216,907 shares of the stock were exchanged, compared to its average volume of 687,127. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $64.11. The company has a 50 day moving average price of $60.43 and a 200-day moving average price of $52.26. The stock has a market cap of $4.00 billion, a P/E ratio of 10.64, a PEG ratio of 0.60 and a beta of 1.44.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business posted $1.52 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. Travel + Leisure's payout ratio is currently 38.62%.

Insider Activity at Travel + Leisure

In other news, insider Geoffrey Richards sold 124,454 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the transaction, the insider directly owned 118,718 shares in the company, valued at $7,426,998.08. This represents a 51.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas Michael Duncan sold 8,201 shares of Travel + Leisure stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.24, for a total transaction of $510,430.24. Following the completion of the transaction, the chief accounting officer owned 20,000 shares in the company, valued at approximately $1,244,800. This trade represents a 29.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 320,174 shares of company stock worth $19,765,874. Corporate insiders own 3.75% of the company's stock.

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.