Travel + Leisure Co. $TNL Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 738,304 shares of the company's stock after buying an additional 83,414 shares during the quarter. Truist Financial Corp owned approximately 1.15% of Travel + Leisure worth $52,073,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TNL. Royal Bank of Canada lifted its stake in Travel + Leisure by 42.0% during the first quarter. Royal Bank of Canada now owns 91,184 shares of the company's stock worth $4,222,000 after purchasing an additional 26,965 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Travel + Leisure during the first quarter worth approximately $396,000. Millennium Management LLC lifted its stake in Travel + Leisure by 129.5% during the first quarter. Millennium Management LLC now owns 413,505 shares of the company's stock worth $19,141,000 after purchasing an additional 233,345 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Travel + Leisure by 97.1% during the first quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company's stock worth $9,271,000 after purchasing an additional 98,647 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in Travel + Leisure during the first quarter worth approximately $206,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Trading Up 1.3%

Shares of NYSE TNL opened at $62.96 on Wednesday. Travel + Leisure Co. has a twelve month low of $46.23 and a twelve month high of $81.00. The stock has a 50 day moving average of $71.57 and a two-hundred day moving average of $69.90. The stock has a market cap of $3.93 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.47 and a beta of 1.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.31 by $0.14. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The business had revenue of $961.00 million during the quarter, compared to analysts' expectations of $954.81 million. During the same quarter in the prior year, the business earned $1.11 earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Travel + Leisure Co. will post 7.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.8%. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Friday, March 20th. Travel + Leisure's dividend payout ratio is currently 67.42%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TNL shares. Weiss Ratings upgraded Travel + Leisure from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Citizens Jmp boosted their target price on Travel + Leisure from $80.00 to $90.00 and gave the stock a "market outperform" rating in a research note on Thursday, February 19th. Mizuho decreased their target price on Travel + Leisure from $107.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company decreased their target price on Travel + Leisure from $88.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, Oppenheimer reiterated an "outperform" rating and issued a $85.00 price objective on shares of Travel + Leisure in a research note on Wednesday, February 18th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.20.

Insider Transactions at Travel + Leisure

In other news, CFO Erik D. Hoag bought 1,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were bought at an average price of $65.67 per share, with a total value of $65,670.00. Following the completion of the acquisition, the chief financial officer owned 1,000 shares of the company's stock, valued at approximately $65,670. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Dean Brown sold 9,443 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $79.11, for a total value of $747,035.73. Following the completion of the sale, the insider directly owned 487,303 shares in the company, valued at $38,550,540.33. This trade represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 121,738 shares of company stock worth $9,136,054 over the last ninety days. 4.01% of the stock is currently owned by company insiders.

Travel + Leisure 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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