Raymond James Financial Inc. Buys Shares of 76,306 Travel + Leisure Co. (NYSE:TNL)

Raymond James Financial Inc. purchased a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 76,306 shares of the company's stock, valued at approximately $3,850,000. Raymond James Financial Inc. owned about 0.11% of Travel + Leisure as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in shares of Travel + Leisure during the fourth quarter valued at approximately $25,000. Versant Capital Management Inc raised its position in Travel + Leisure by 49.2% in the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company's stock worth $32,000 after acquiring an additional 210 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Travel + Leisure by 314.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company's stock valued at $33,000 after acquiring an additional 503 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company's stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock worth $39,000 after purchasing an additional 181 shares during the period. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Trading Down 0.6 %

Shares of NYSE:TNL traded down $0.27 on Wednesday, reaching $43.93. 706,327 shares of the company traded hands, compared to its average volume of 628,353. The stock has a market capitalization of $2.92 billion, a P/E ratio of 7.52, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95. The business's 50-day simple moving average is $46.92 and its 200 day simple moving average is $50.51.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced 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 quarter in the previous year, the company posted $0.97 earnings per share. The business's revenue was up 2.0% on a year-over-year basis. Sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given 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 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date was Monday, March 17th. Travel + Leisure's payout ratio is presently 37.40%.

Analyst Ratings Changes

Several brokerages have issued reports on TNL. Truist Financial boosted their target price on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, March 7th. The Goldman Sachs Group reduced their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays reduced their target price on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a report on Thursday, April 24th. Bank of America upgraded shares of Travel + Leisure from an "underperform" rating to a "buy" rating and raised their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Finally, Morgan Stanley lowered their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.20.

Insider Transactions at Travel + Leisure

In other news, Director George Herrera sold 6,336 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value 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 represents a 69.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Dean Brown acquired 2,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the purchase, the insider now directly owns 408,706 shares of the company's stock, valued at $19,070,221.96. This represents a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.75% of the company's stock.

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.