Bank of Nova Scotia Takes $5.19 Million Position in Travel + Leisure Co. (NYSE:TNL)

Key Points

• Bank of Nova Scotia acquired a new stake in Travel + Leisure Co. by purchasing 112,100 shares valued at approximately $5.19 million, representing 0.17% ownership.
• Insiders have sold a total of 323,474 shares of Travel + Leisure stock worth nearly $20 million over the last quarter, indicating significant insider trading activity.
• Mizuho upgraded Travel + Leisure to an "outperform" rating, increasing the price target to $72.00, while the overall consensus rating remains "Moderate Buy" with a target of $62.30.

Bank of Nova Scotia purchased a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 112,100 shares of the company's stock, valued at approximately $5,188,000. Bank of Nova Scotia owned 0.17% of Travel + Leisure at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Cerity Partners LLC boosted its position in shares of Travel + Leisure by 1.0% during the fourth quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock worth $986,000 after buying an additional 200 shares during the period. Capital Analysts LLC lifted its stake in Travel + Leisure by 16.8% in the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company's stock valued at $80,000 after acquiring an additional 227 shares in the last quarter. KBC Group NV boosted its position in Travel + Leisure by 8.1% during the 1st quarter. KBC Group NV now owns 3,128 shares of the company's stock worth $145,000 after acquiring an additional 235 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Travel + Leisure by 3.0% during the 1st quarter. Cetera Investment Advisers now owns 10,789 shares of the company's stock worth $499,000 after acquiring an additional 317 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock valued at $54,000 after purchasing an additional 409 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JMP Securities increased their target price 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. Barclays raised their price objective on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $63.00 to $72.00 in a report on Thursday, July 24th. Wall Street Zen upgraded Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, The Goldman Sachs Group decreased their price target on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.30.

Travel + Leisure Trading Down 0.4%

Shares of TNL traded down $0.21 during mid-day trading on Friday, reaching $58.88. The company's stock had a trading volume of 493,557 shares, compared to its average volume of 800,934. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $63.31. The stock has a market cap of $3.82 billion, a P/E ratio of 10.15, a PEG ratio of 0.57 and a beta of 1.43. The business has a 50-day simple moving average of $54.75 and a two-hundred day simple moving average of $51.15.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. 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. Stockholders of record on Friday, June 13th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure's dividend payout ratio (DPR) is presently 38.62%.

Insider Buying and Selling

In other news, insider Michael Dean Brown purchased 1,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $58.39 per share, with a total value of $87,585.00. Following the acquisition, the insider owned 427,821 shares in the company, valued at approximately $24,980,468.19. This trade represents a 0.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Michael Duncan sold 8,201 shares of Travel + Leisure stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total value of $510,430.24. Following the sale, the chief accounting officer directly owned 20,000 shares of the company's stock, valued at approximately $1,244,800. The trade was a 29.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 323,474 shares of company stock valued at $19,908,918. 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.