Travel + Leisure Co. (NYSE:TNL) Announces $0.60 Quarterly Dividend

Key Points

• Travel + Leisure declared a quarterly dividend of $0.60 per share, payable September 30 to shareholders of record as of September 16. The dividend implies a 3.1% annualized yield, with a 33.5% payout ratio.
• The company’s latest quarterly results matched expectations at $1.88 earnings per share, while revenue rose 4.4% year over year to $1.06 billion. Analysts expect the dividend to remain well covered by projected earnings.
• TNL shares opened at $77.98, near their 52-week high of $81.00. Insiders sold approximately $7.2 million of stock over the past three months, while institutional investors own 87.54% of the company.

Travel + Leisure Co. (NYSE:TNL - Get Free Report) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Wednesday, September 16th will be paid a dividend of 0.60 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 16th.

Travel + Leisure has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 5 years. Travel + Leisure has a dividend payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Travel + Leisure to earn $8.83 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 27.2%.

Travel + Leisure Trading Up 1.2%

Shares of TNL opened at $77.98 on Wednesday. The firm has a market cap of $4.77 billion, a PE ratio of 21.31, a P/E/G ratio of 0.57 and a beta of 1.17. The firm has a fifty day simple moving average of $74.25 and a two-hundred day simple moving average of $71.81. Travel + Leisure has a 1-year low of $57.78 and a 1-year high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business posted $1.65 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Travel + Leisure will post 7.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director George Herrera sold 500 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the sale, the director owned 1,353 shares in the company, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denny Marie Post sold 2,500 shares of Travel + Leisure stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $63.83, for a total value of $159,575.00. Following the sale, the director directly owned 1,977 shares in the company, valued at $126,191.91. This trade represents a 55.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 97,435 shares of company stock valued at $7,166,474 over the last three months. Insiders own 4.01% of the company's stock.

Institutional Investors Weigh In On Travel + Leisure

Institutional investors and hedge funds have recently modified their holdings of the stock. Elevation Wealth Partners LLC grew its stake in Travel + Leisure by 413.3% during the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company's stock valued at $35,000 after acquiring an additional 372 shares in the last quarter. Danske Bank A S bought a new position in shares of Travel + Leisure during the 3rd quarter valued at about $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of Travel + Leisure during the fourth quarter valued at about $43,000. Assetmark Inc. increased its holdings in shares of Travel + Leisure by 43.8% in the first quarter. Assetmark Inc. now owns 627 shares of the company's stock worth $43,000 after purchasing an additional 191 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Travel + Leisure by 293.0% in the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company's stock worth $44,000 after purchasing an additional 715 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

About Travel + Leisure

Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.

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