Travel + Leisure Co. $TNL Stock Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Travel + Leisure stake by 5.3% in the second quarter, bringing its holdings to 802,110 shares valued at approximately $61.3 million. Institutional investors collectively own 87.54% of the company.
• Travel + Leisure reported quarterly EPS of $1.88, in line with analyst estimates, while revenue of $1.06 billion exceeded expectations and rose 4.4% year over year.
• The company declared a quarterly dividend of $0.60 per share, equivalent to an annualized $2.40 payout and a 3.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.18.

Envestnet Asset Management Inc. grew its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 802,110 shares of the company's stock after acquiring an additional 40,573 shares during the period. Envestnet Asset Management Inc. owned about 1.31% of Travel + Leisure worth $61,305,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TNL. Louisiana State Employees Retirement System acquired a new stake in Travel + Leisure in the 1st quarter valued at about $1,294,000. Kendall Capital Management purchased a new position in Travel + Leisure during the 2nd quarter valued at about $3,409,000. Deutsche Bank AG acquired a new position in Travel + Leisure during the second quarter worth about $7,399,000. Allianz Asset Management GmbH raised its position in Travel + Leisure by 3,677.9% during the second quarter. Allianz Asset Management GmbH now owns 301,478 shares of the company's stock worth $23,042,000 after acquiring an additional 293,498 shares during the last quarter. Finally, Robotti Robert purchased a new stake in shares of Travel + Leisure in the second quarter valued at about $9,327,000. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Price Performance

NYSE TNL opened at $63.66 on Friday. Travel + Leisure Co. has a 1-year low of $58.07 and a 1-year high of $81.00. The firm has a market capitalization of $3.90 billion, a P/E ratio of 17.39, a P/E/G ratio of 0.43 and a beta of 1.15. The business's 50-day simple moving average is $70.74 and its 200-day simple moving average is $70.90.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.88. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 earnings per share. On average, equities research analysts expect that Travel + Leisure Co. will post 7.7 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's dividend payout ratio is currently 65.57%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TNL shares. Morgan Stanley raised their price objective on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 18th. Susquehanna started coverage on Travel + Leisure in a report on Tuesday, August 18th. They issued a "positive" rating and a $95.00 price target for the company. Mizuho upped their price objective on Travel + Leisure from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group upgraded Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research report on Monday, June 1st. Finally, Zacks Research lowered Travel + Leisure from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.18.

Insider Buying and Selling at Travel + Leisure

In other news, CAO Thomas Michael Duncan sold 20,000 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the transaction, the chief accounting officer directly owned 5,307 shares of the company's stock, valued at approximately $393,567.12. The trade was a 79.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geoffrey Richards sold 33,744 shares of the company's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the completion of the transaction, the insider owned 1,600 shares of the company's stock, valued at $121,040. This trade represents a 95.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 86,635 shares of company stock valued at $6,503,559 over the last 90 days. 4.01% of the stock is owned by corporate insiders.

Travel + Leisure Profile

Travel + Leisure Co NYSE: TNL is a hospitality and leisure company focused primarily on vacation ownership, membership, and travel services. The company develops, sells, and manages vacation ownership interests and related travel products through brands that include Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, and Travel + Leisure Co vacation ownership offerings.

The company also operates RCI, a vacation exchange network that enables members of affiliated vacation ownership programs to exchange accommodations in destinations around the world.

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