Pinebridge Investments L.P. Purchases 13,014 Shares of Travel + Leisure Co. (NYSE:TNL)

Pinebridge Investments L.P. boosted its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 42.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,502 shares of the company's stock after acquiring an additional 13,014 shares during the period. Pinebridge Investments L.P. owned about 0.06% of Travel + Leisure worth $2,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Travel + Leisure in the 4th quarter worth about $45,804,000. Invesco Ltd. grew its holdings in Travel + Leisure by 4.8% in the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock worth $178,822,000 after buying an additional 163,804 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Travel + Leisure by 15.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock valued at $46,169,000 after acquiring an additional 122,173 shares during the period. Trexquant Investment LP raised its stake in Travel + Leisure by 177.5% during the 4th quarter. Trexquant Investment LP now owns 167,888 shares of the company's stock valued at $8,470,000 after acquiring an additional 107,389 shares in the last quarter. Finally, Barclays PLC boosted its position in Travel + Leisure by 80.4% during the 3rd quarter. Barclays PLC now owns 225,326 shares of the company's stock worth $10,383,000 after acquiring an additional 100,440 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Stock Up 5.2 %

Shares of NYSE TNL traded up $2.32 during mid-day trading on Friday, hitting $47.26. 729,231 shares of the company traded hands, compared to its average volume of 631,798. The business has a 50 day moving average of $46.30 and a two-hundred day moving average of $50.49. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.01. The company had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share. As a group, research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.56 per share. This is an increase from Travel + Leisure's previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure's payout ratio is 37.40%.

Insider Activity

In related news, insider Michael Dean Brown bought 2,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This represents a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the sale, the director now directly owns 2,759 shares of the company's stock, valued at $129,121.20. This trade represents a 69.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TNL. Mizuho reaffirmed a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Barclays reduced their price target on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a research note on Thursday, April 24th. Bank of America raised Travel + Leisure from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Tigress Financial increased their price target on Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Truist Financial lifted their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and an average target price of $59.20.

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.