Legal & General Group Plc Makes New Investment in Travel + Leisure Co. $TNL

Key Points

• Legal & General Group Plc acquired 79,617 shares of Travel + Leisure, valued at approximately $6.1 million, giving it a 0.13% stake. Institutional investors and hedge funds collectively own 87.54% of the company.
• Analysts maintain a positive outlook, with 11 Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $87.82.
• Travel + Leisure matched quarterly EPS estimates at $1.88 and exceeded revenue expectations with $1.06 billion, up 4.4% year over year. The company also announced a quarterly dividend of $0.60 per share, representing a 3.6% annualized yield.

Legal & General Group Plc acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 79,617 shares of the company's stock, valued at approximately $6,085,000. Legal & General Group Plc owned 0.13% of Travel + Leisure as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Louisiana State Employees Retirement System acquired a new position in Travel + Leisure in the 1st quarter valued at approximately $1,294,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Travel + Leisure during the fourth quarter valued at approximately $2,231,000. LSV Asset Management increased its position in shares of Travel + Leisure by 1.1% during the fourth quarter. LSV Asset Management now owns 1,612,657 shares of the company's stock valued at $113,741,000 after purchasing an additional 17,377 shares during the period. Deutsche Bank AG acquired a new position in shares of Travel + Leisure in the second quarter valued at $7,399,000. Finally, UBS Group AG lifted its position in Travel + Leisure by 21.5% in the fourth quarter. UBS Group AG now owns 280,291 shares of the company's stock worth $19,769,000 after purchasing an additional 49,519 shares during the period. Institutional investors and hedge funds own 87.54% of the company's stock.

Insider Activity

In other Travel + Leisure news, Director George Herrera sold 500 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the transaction, the director directly owned 1,353 shares in the company, valued at $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geoffrey Richards sold 33,744 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the sale, the insider directly owned 1,600 shares in the company, valued at $121,040. This represents a 95.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 87,135 shares of company stock worth $6,541,139. Company insiders own 4.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TNL shares. Wells Fargo & Company lifted their price target on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Citigroup restated a "market outperform" rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. Mizuho raised their price objective on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Barclays lifted their target price on shares of Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $87.82.

Travel + Leisure Price Performance

Shares of TNL stock opened at $67.21 on Thursday. The stock's fifty day simple moving average is $74.34 and its 200 day simple moving average is $72.03. Travel + Leisure Co. has a one year low of $58.07 and a one year high of $81.00. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 0.45 and a beta of 1.15.

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

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Travel + Leisure's dividend payout ratio (DPR) is 65.57%.

Travel + Leisure Company Profile

Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.

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