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

Pinebridge Investments L.P. grew its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 42.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in 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 purchasing an additional 163,804 shares during the period. Copeland Capital Management LLC increased its position in shares of Travel + Leisure by 0.8% during the fourth quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company's stock worth $78,984,000 after acquiring an additional 12,111 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 last quarter. Norges Bank bought a new stake in Travel + Leisure in the fourth quarter valued at $45,804,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Travel + Leisure by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 905,667 shares of the company's stock worth $45,691,000 after purchasing an additional 45,447 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Insider Transactions at Travel + Leisure

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TNL shares. Bank of America upgraded Travel + Leisure from an "underperform" rating to a "buy" rating and increased their target price for the company from $40.00 to $60.00 in a report on Monday, January 27th. Barclays dropped their target price on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. Tigress Financial lifted their price objective on Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Mizuho restated a "neutral" rating and set a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Finally, Truist Financial boosted their price target on Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.

Travel + Leisure Trading Down 0.6 %

NYSE:TNL traded down $0.27 during midday trading on Wednesday, reaching $43.93. The company had a trading volume of 706,327 shares, compared to its average volume of 627,846. The stock's fifty day simple moving average is $46.69 and its 200-day simple moving average is $50.46. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data 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. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. During the same period last year, the business posted $0.97 EPS. Travel + Leisure's quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's dividend payout ratio (DPR) is 37.40%.

About Travel + Leisure

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.