Travel + Leisure Co. $TNL Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH sold 58% of its holdings in Travel + Leisure Co., reducing its stake to about 0.08% worth $2.7 million.
• Insider trades show significant selling activity, with Director George Herrera reducing his position by nearly 80%, while total insider sales in the past 90 days reached over $1.29 million.
• Travel + Leisure reported a quarterly EPS of $1.80, exceeding analyst expectations, and announced a dividend yield of 3.4%, reinforcing its commitment to returning value to shareholders.

Allianz Asset Management GmbH cut its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 58.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,424 shares of the company's stock after selling 72,539 shares during the quarter. Allianz Asset Management GmbH owned about 0.08% of Travel + Leisure worth $2,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ritholtz Wealth Management boosted its position in Travel + Leisure by 121.0% during the second quarter. Ritholtz Wealth Management now owns 34,549 shares of the company's stock worth $1,783,000 after acquiring an additional 18,915 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Travel + Leisure by 8.2% during the second quarter. Sequoia Financial Advisors LLC now owns 8,799 shares of the company's stock worth $454,000 after purchasing an additional 666 shares during the period. CWM LLC raised its stake in Travel + Leisure by 83.4% during the second quarter. CWM LLC now owns 39,640 shares of the company's stock worth $2,046,000 after purchasing an additional 18,024 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Travel + Leisure by 31.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,327 shares of the company's stock worth $585,000 after purchasing an additional 2,695 shares during the period. Finally, IFP Advisors Inc raised its stake in Travel + Leisure by 9.5% during the second quarter. IFP Advisors Inc now owns 3,008 shares of the company's stock worth $155,000 after purchasing an additional 262 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total transaction of $133,056.00. Following the sale, the director directly owned 559 shares of the company's stock, valued at $33,808.32. This represents a 79.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geoffrey Richards sold 1,404 shares of the company's stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $64.50, for a total transaction of $90,558.00. Following the sale, the insider directly owned 139,615 shares in the company, valued at approximately $9,005,167.50. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,104 shares of company stock valued at $1,296,114 in the last 90 days. Corporate insiders own 3.75% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup reaffirmed an "outperform" rating on shares of Travel + Leisure in a research note on Thursday. Wall Street Zen downgraded shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Travel + Leisure in a research note on Friday. Morgan Stanley set a $68.00 target price on shares of Travel + Leisure in a research note on Wednesday. Finally, Mizuho set a $86.00 price target on shares of Travel + Leisure in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.90.

Travel + Leisure Stock Performance

Travel + Leisure stock opened at $65.21 on Friday. The company's 50 day simple moving average is $61.47 and its 200-day simple moving average is $54.79. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.63 and a beta of 1.47. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $70.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.08. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The business's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS. Equities analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, September 12th. Travel + Leisure's dividend payout ratio is presently 38.62%.

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.

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