Principal Financial Group Inc. Decreases Holdings in Travel + Leisure Co. (NYSE:TNL)

Principal Financial Group Inc. decreased its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,226 shares of the company's stock after selling 5,590 shares during the quarter. Principal Financial Group Inc. owned 0.36% of Travel + Leisure worth $11,074,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TNL. Norges Bank purchased a new stake in shares of Travel + Leisure during the 4th quarter worth approximately $45,804,000. Nuveen Asset Management LLC boosted its stake in shares of Travel + Leisure by 25.1% during the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock worth $45,299,000 after acquiring an additional 180,059 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Travel + Leisure by 4.8% during the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock worth $178,822,000 after acquiring an additional 163,804 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Travel + Leisure in the 4th quarter valued at approximately $6,304,000. Finally, Millennium Management LLC lifted its stake in Travel + Leisure by 167.8% in the 4th quarter. Millennium Management LLC now owns 180,160 shares of the company's stock valued at $9,089,000 after buying an additional 112,883 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TNL. Morgan Stanley reduced their target price on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group reduced their target price on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays reduced their target price on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Travel + Leisure has a consensus rating of "Moderate Buy" and a consensus price target of $59.20.

Travel + Leisure Price Performance

TNL traded down $0.00 during trading on Thursday, hitting $56.64. The company's stock had a trading volume of 509,650 shares, compared to its average volume of 648,765. The firm's 50 day moving average price is $51.34 and its 200-day moving average price is $50.17. The stock has a market cap of $3.76 billion, a PE ratio of 9.46, a PEG ratio of 0.55 and a beta of 1.38. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.01. The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. Travel + Leisure had a negative return on equity of 46.83% and a net margin of 10.77%. Travel + Leisure's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. Equities analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.24 annualized dividend and a yield of 3.95%. Travel + Leisure's dividend payout ratio (DPR) is presently 37.40%.

Insiders Place Their Bets

In other news, insider Jeffrey Myers sold 13,922 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $58.00, for a total transaction of $807,476.00. Following the completion of the sale, the insider directly owned 165,890 shares in the company, valued at $9,621,620. This represents a 7.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Denny Marie Post sold 5,500 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the sale, the director owned 4,477 shares of the company's stock, valued at approximately $224,745.40. The trade was a 55.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,285 shares of company stock valued at $1,474,767. Insiders own 3.75% of the company's stock.

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.