Deutsche Bank AG Boosts Holdings in Travel + Leisure Co. $TNL

Key Points

• Deutsche Bank AG increased its stake in Travel + Leisure Co. by 620.9% in the first quarter, owning a total of 37,049 shares worth approximately $1,715,000.
• Recent analyst reports have raised price targets for Travel + Leisure, with JMP Securities setting a new target of $70.00 and Mizuho increasing theirs to $72.00, contributing to an overall "Moderate Buy" rating.
• Company insiders have sold a total of 320,174 shares of Travel + Leisure stock worth nearly $19.8 million over the past quarter, indicating potential shifts in ownership dynamics.

Deutsche Bank AG grew its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 620.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,049 shares of the company's stock after purchasing an additional 31,910 shares during the quarter. Deutsche Bank AG owned about 0.06% of Travel + Leisure worth $1,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in Travel + Leisure by 4.3% during the fourth quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company's stock worth $71,358,000 after purchasing an additional 58,944 shares during the period. Northern Trust Corp boosted its position in Travel + Leisure by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company's stock worth $52,302,000 after purchasing an additional 90,553 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Travel + Leisure by 8.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company's stock worth $46,039,000 after purchasing an additional 79,430 shares during the period. LSV Asset Management boosted its position in Travel + Leisure by 37.7% during the first quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after purchasing an additional 261,528 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in Travel + Leisure by 25.1% during the fourth quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock worth $45,299,000 after purchasing an additional 180,059 shares during the period. Institutional investors own 87.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TNL. Barclays increased their target price on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. JMP Securities raised their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Mizuho upgraded shares of 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 research report on Thursday, July 24th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.30.

Insiders Place Their Bets

In other Travel + Leisure news, insider Geoffrey Richards sold 124,454 shares of Travel + Leisure stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the transaction, the insider directly owned 118,718 shares of the company's stock, valued at approximately $7,426,998.08. This trade represents a 51.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Myers sold 110,885 shares of Travel + Leisure stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the transaction, the insider directly owned 142,553 shares in the company, valued at $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 320,174 shares of company stock valued at $19,765,874 over the last quarter. Insiders own 3.75% of the company's stock.

Travel + Leisure Trading Up 0.9%

Shares of Travel + Leisure stock traded up $0.53 on Wednesday, hitting $62.21. 750,528 shares of the company traded hands, compared to its average volume of 680,382. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $63.31. The company has a market cap of $4.04 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.59 and a beta of 1.43. The firm's 50-day simple moving average is $57.69 and its 200 day simple moving average is $51.67.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. Analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 12th. Travel + Leisure's dividend payout ratio is currently 38.62%.

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.