Allspring Global Investments Holdings LLC Acquires 24,329 Shares of Travel + Leisure Co. (NYSE:TNL)

Allspring Global Investments Holdings LLC boosted its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 210.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,893 shares of the company's stock after purchasing an additional 24,329 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.05% of Travel + Leisure worth $1,666,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new position in shares of Travel + Leisure during the fourth quarter worth about $25,000. Natixis bought a new position in Travel + Leisure in the fourth quarter worth about $37,000. Smartleaf Asset Management LLC lifted its holdings in Travel + Leisure by 30.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock worth $39,000 after acquiring an additional 181 shares during the last quarter. UMB Bank n.a. lifted its holdings in Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after acquiring an additional 409 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Travel + Leisure by 333.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock valued at $66,000 after buying an additional 1,000 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Travel + Leisure news, Director Denny Marie Post sold 5,500 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $50.20, for a total transaction of $276,100.00. Following the completion of the transaction, the director owned 4,477 shares of the company's stock, valued at $224,745.40. The trade was a 55.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Myers sold 13,922 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $58.00, for a total transaction of $807,476.00. Following the transaction, the insider directly owned 165,890 shares of the company's stock, valued at $9,621,620. This represents a 7.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,285 shares of company stock valued at $1,474,767. Company insiders own 3.75% of the company's stock.

Travel + Leisure Stock Down 1.0%

Shares of NYSE:TNL traded down $0.58 during trading on Friday, reaching $57.31. 509,851 shares of the company traded hands, compared to its average volume of 651,305. The firm has a fifty day simple moving average of $50.36 and a 200 day simple moving average of $49.96. The firm has a market cap of $3.81 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.55 and a beta of 1.38. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.01. Travel + Leisure had a net margin of 10.77% and a negative return on equity of 46.83%. The company had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. During the same quarter last year, the business posted $0.97 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure's payout ratio is presently 37.40%.

Wall Street Analyst Weigh In

TNL has been the topic of a number of recent analyst reports. Barclays cut their price target on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Morgan Stanley decreased their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group decreased their price target on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $59.20.

About Travel + Leisure

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.