Travel + Leisure Co. (NYSE:TNL) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Travel + Leisure Co. by 16.1%, holding 124,963 shares worth $5,785,000 at the end of the most recent quarter.
• Insiders sold a total of 199,020 shares of Travel + Leisure stock in the last quarter, which is valued at approximately $12.1 million.
• The company reported a quarterly EPS of $1.65, slightly missing expectations, while its revenue was up 3.4% compared to the same quarter last year.

Allianz Asset Management GmbH trimmed its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,963 shares of the company's stock after selling 24,018 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.19% of Travel + Leisure worth $5,785,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Natixis acquired a new position in Travel + Leisure during the fourth quarter valued at $37,000. UMB Bank n.a. raised its stake in shares of Travel + Leisure by 54.0% during the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after buying an additional 409 shares during the period. Rossby Financial LCC acquired a new position in shares of Travel + Leisure during the 1st quarter worth about $55,000. Canada Pension Plan Investment Board raised its position in shares of Travel + Leisure by 333.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Capital Analysts LLC raised its position in shares of Travel + Leisure by 16.8% during the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company's stock worth $80,000 after purchasing an additional 227 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Trading Down 3.4%

Travel + Leisure stock traded down $2.09 during midday trading on Thursday, reaching $59.82. The company's stock had a trading volume of 152,651 shares, compared to its average volume of 695,591. The business has a 50-day moving average price of $53.24 and a 200-day moving average price of $50.80. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $63.31. The stock has a market cap of $3.88 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 0.60 and a beta of 1.38.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $1.02 billion for 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 company's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.56 per share. The ex-dividend date was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a yield of 3.74%. Travel + Leisure's dividend payout ratio (DPR) is 38.62%.

Insider Activity

In other Travel + Leisure news, Director Denny Marie Post sold 5,500 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the sale, the director directly owned 4,477 shares in the company, valued at $224,745.40. This represents a 55.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey Myers sold 110,885 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total value of $6,911,462.05. Following the sale, the insider owned 142,553 shares of the company's stock, valued at approximately $8,885,328.49. This represents a 43.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 323,474 shares of company stock worth $19,908,918. 3.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Barclays upped their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday, July 24th. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $63.00 to $72.00 in a report on Thursday, July 24th. Wall Street Zen raised shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, JMP Securities lifted their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Travel + Leisure presently has a consensus rating of "Moderate Buy" and an average price target of $62.30.

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.