The Manufacturers Life Insurance Company Invests $3.32 Million in Travel + Leisure Co. $TNL

Key Points

• The Manufacturers Life Insurance Company purchased 43,439 shares of Travel + Leisure, valued at approximately $3.32 million, while institutional investors collectively own 87.54% of the company.
• Analyst sentiment is positive, with 11 Buy ratings and two Holds, resulting in a consensus “Moderate Buy” rating 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; it also declared a quarterly dividend of $0.60 per share, yielding approximately 3.6%.

The Manufacturers Life Insurance Company bought a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,439 shares of the company's stock, valued at approximately $3,320,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Travel + Leisure at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TNL. Sanctuary Advisors LLC purchased a new stake in Travel + Leisure in the second quarter valued at $477,000. Kendall Capital Management acquired a new position in Travel + Leisure in the second quarter valued at $3,409,000. Commerce Bank purchased a new position in shares of Travel + Leisure during the second quarter worth about $1,524,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Travel + Leisure during the second quarter worth about $243,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Travel + Leisure during the second quarter worth about $808,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TNL. The Goldman Sachs Group raised Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a report on Monday, June 1st. Mizuho raised their price target on Travel + Leisure from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Susquehanna initiated coverage on Travel + Leisure in a research note on Tuesday, August 18th. They issued a "positive" rating and a $95.00 price objective for the company. Finally, Barclays increased their price objective on Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.82.

Travel + Leisure Stock Performance

Shares of TNL opened at $65.97 on Wednesday. Travel + Leisure Co. has a fifty-two week low of $58.07 and a fifty-two week high of $81.00. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 0.47 and a beta of 1.16. The firm has a 50-day simple moving average of $74.53 and a 200-day simple moving average of $72.07.

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

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Travel + Leisure's payout ratio is presently 65.57%.

Insider Buying and Selling

In other news, Director George Herrera sold 500 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the sale, the director owned 1,353 shares in the company, valued at $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $2,451,825.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 115,135 shares of company stock worth $8,505,899. 4.01% of the stock is currently owned by company insiders.

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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