Travel + Leisure Co. (NYSE:TNL) Stock Position Reduced by Bank of America Corp DE

Bank of America Corp DE decreased its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 41.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,121 shares of the company's stock after selling 66,095 shares during the quarter. Bank of America Corp DE owned 0.14% of Travel + Leisure worth $4,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Travel + Leisure during the fourth quarter worth about $45,804,000. Invesco Ltd. grew its position in shares of Travel + Leisure by 4.8% in the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock valued at $178,822,000 after purchasing an additional 163,804 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Travel + Leisure by 15.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock worth $46,169,000 after purchasing an additional 122,173 shares in the last quarter. Trexquant Investment LP raised its position in shares of Travel + Leisure by 177.5% during the 4th quarter. Trexquant Investment LP now owns 167,888 shares of the company's stock worth $8,470,000 after purchasing an additional 107,389 shares during the last quarter. Finally, Barclays PLC lifted its stake in Travel + Leisure by 80.4% in the 3rd quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after buying an additional 100,440 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Travel + Leisure Trading Down 0.3%

TNL traded down $0.13 during midday trading on Friday, hitting $48.57. The company's stock had a trading volume of 709,435 shares, compared to its average volume of 642,417. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $58.95. The firm has a 50-day moving average price of $45.53 and a two-hundred day moving average price of $50.43. The firm has a market cap of $3.23 billion, a P/E ratio of 8.32, a PEG ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.01. The company had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. Travel + Leisure's revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 earnings per share. On average, equities analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Friday, June 13th. Travel + Leisure's dividend payout ratio (DPR) is presently 37.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TNL shares. Morgan Stanley cut their price target on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Barclays cut their target price on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group reduced their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Tigress Financial lifted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, Mizuho reissued a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Travel + Leisure currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.

Insider Activity at Travel + Leisure

In other news, insider Michael Dean Brown acquired 2,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the purchase, the insider now directly owns 408,706 shares of the company's stock, valued at approximately $19,070,221.96. This trade represents a 0.49% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Denny Marie Post sold 5,500 shares of the company'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 now owns 4,477 shares of the company's stock, valued at $224,745.40. This trade represents a 55.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.75% of the stock is currently owned by insiders.

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.