Allianz Asset Management GmbH Buys 293,498 Shares of Travel + Leisure Co. $TNL

Allianz Asset Management GmbH lifted its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 3,677.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 301,478 shares of the company's stock after acquiring an additional 293,498 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.49% of Travel + Leisure worth $23,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Bancorp Inc ME purchased a new position in Travel + Leisure during the 2nd quarter worth $27,000. Elevation Wealth Partners LLC lifted its holdings in shares of Travel + Leisure by 413.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 462 shares of the company's stock worth $35,000 after buying an additional 372 shares during the period. Danske Bank A S bought a new position in shares of Travel + Leisure during the 3rd quarter worth $30,000. N.E.W. Advisory Services LLC bought a new position in shares of Travel + Leisure during the 2nd quarter worth $46,000. Finally, Assetmark Inc. increased its stake in shares of Travel + Leisure by 43.8% during the first quarter. Assetmark Inc. now owns 627 shares of the company's stock valued at $43,000 after buying an additional 191 shares during the period. Institutional investors own 87.54% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Zacks Research downgraded Travel + Leisure from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Morgan Stanley increased their target price on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, August 18th. Mizuho boosted their price target on shares of Travel + Leisure from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Weiss Ratings restated a "buy (b-)" rating on shares of Travel + Leisure in a report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price target on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Travel + Leisure currently has an average rating of "Moderate Buy" and an average target price of $87.82.

Travel + Leisure Stock Down 0.2%

NYSE:TNL opened at $66.21 on Tuesday. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.45 and a beta of 1.15. Travel + Leisure Co. has a 52 week low of $58.07 and a 52 week high of $81.00. The firm has a 50 day moving average of $73.67 and a 200 day moving average of $71.92.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.88. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. As a group, analysts expect that Travel + Leisure Co. will post 7.7 EPS for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's payout ratio is 65.57%.

Insiders Place Their Bets

In other Travel + Leisure news, insider Geoffrey Richards sold 33,744 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $75.65, for a total value of $2,552,733.60. Following the completion of the sale, the insider directly owned 1,600 shares in the company, valued at approximately $121,040. This trade represents a 95.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George Herrera sold 500 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the sale, the director directly owned 1,353 shares of the company's stock, valued at approximately $101,691.48. This represents a 26.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 87,135 shares of company stock valued at $6,541,139 in the last 90 days. Corporate insiders own 4.01% of the company's stock.

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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