Corient Private Wealth LP Increases Stock Position in Travel + Leisure Co. $TNL

Key Points

• Corient Private Wealth increased its Travel + Leisure stake by 23.8% in the second quarter, bringing its holdings to 171,547 shares valued at approximately $13.1 million. Institutional investors collectively own 87.54% of the company.
• Travel + Leisure reported quarterly revenue of $1.06 billion, up 4.4% year over year, while earnings per share matched analyst expectations at $1.88. The company declared a $0.60 quarterly dividend, representing a 3.7% annualized yield.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $89.18, although company insiders sold 86,635 shares worth about $6.5 million over the past 90 days.

Corient Private Wealth LP increased its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 23.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,547 shares of the company's stock after buying an additional 33,002 shares during the quarter. Corient Private Wealth LP owned about 0.28% of Travel + Leisure worth $13,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TNL. Baron Wealth Management LLC lifted its stake in shares of Travel + Leisure by 2.8% in the 1st quarter. Baron Wealth Management LLC now owns 4,953 shares of the company's stock valued at $343,000 after purchasing an additional 133 shares in the last quarter. Diversified Trust Co raised its holdings in Travel + Leisure by 0.7% in the first quarter. Diversified Trust Co now owns 19,393 shares of the company's stock valued at $1,342,000 after buying an additional 137 shares during the period. PNC Financial Services Group Inc. lifted its position in Travel + Leisure by 2.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,790 shares of the company's stock valued at $408,000 after buying an additional 148 shares in the last quarter. Evolve Private Wealth LLC lifted its holdings in shares of Travel + Leisure by 1.7% during the 1st quarter. Evolve Private Wealth LLC now owns 9,270 shares of the company's stock valued at $641,000 after acquiring an additional 156 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of Travel + Leisure by 3.8% during the first quarter. Sanctuary Advisors LLC now owns 5,234 shares of the company's stock worth $362,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Price Performance

Travel + Leisure stock opened at $65.31 on Wednesday. Travel + Leisure Co. has a 12 month low of $58.07 and a 12 month high of $81.00. The company has a fifty day moving average price of $72.42 and a two-hundred day moving average price of $71.51. The company has a market cap of $4.00 billion, a PE ratio of 17.85, a P/E/G ratio of 0.45 and a beta of 1.15.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting analysts' consensus estimates of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Travel + Leisure Co. will post 7.7 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's payout ratio is presently 65.57%.

Analysts Set New Price Targets

TNL has been the subject of several analyst reports. Morgan Stanley upped their target price on shares of Travel + Leisure from $83.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, August 18th. Susquehanna started coverage on shares of Travel + Leisure in a research report on Tuesday, August 18th. They issued a "positive" rating and a $95.00 target price for the company. Wells Fargo & Company boosted their target price 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. Barclays increased their price target on shares of Travel + Leisure from $74.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.18.

Insider Buying and Selling at Travel + Leisure

In other news, insider Kimberly Marshall sold 32,691 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Michael Duncan sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total value of $1,483,200.00. Following the sale, the chief accounting officer owned 5,307 shares in the company, valued at $393,567.12. The trade was a 79.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 86,635 shares of company stock worth $6,503,559 over the last ninety days. Company insiders own 4.01% of the company's stock.

About Travel + Leisure

Travel + Leisure Co NYSE: TNL is a hospitality and leisure company focused primarily on vacation ownership, membership, and travel services. The company develops, sells, and manages vacation ownership interests and related travel products through brands that include Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, and Travel + Leisure Co vacation ownership offerings.

The company also operates RCI, a vacation exchange network that enables members of affiliated vacation ownership programs to exchange accommodations in destinations around the world.

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