Alliancebernstein L.P. Lowers Holdings in Travel + Leisure Co. (NYSE:TNL)

Alliancebernstein L.P. reduced its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,081 shares of the company's stock after selling 8,882 shares during the quarter. Alliancebernstein L.P. owned approximately 0.22% of Travel + Leisure worth $7,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Everstar Asset Management LLC increased its stake in Travel + Leisure by 6.5% in the 4th quarter. Everstar Asset Management LLC now owns 8,931 shares of the company's stock worth $451,000 after buying an additional 546 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Travel + Leisure by 77.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,197 shares of the company's stock worth $414,000 after purchasing an additional 3,570 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in Travel + Leisure in the 4th quarter worth approximately $215,000. Arrowstreet Capital Limited Partnership boosted its stake in Travel + Leisure by 10.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 814,319 shares of the company's stock worth $41,082,000 after purchasing an additional 79,922 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in Travel + Leisure by 19.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,271 shares of the company's stock worth $518,000 after purchasing an additional 1,638 shares during the period. 87.54% of the stock is currently owned by institutional investors.

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Travel + Leisure Stock Performance

TNL traded up $0.36 on Tuesday, hitting $41.80. The company had a trading volume of 729,424 shares, compared to its average volume of 621,647. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 7.16, a P/E/G ratio of 0.67 and a beta of 1.40. The stock has a fifty day moving average price of $49.98 and a 200-day moving average price of $50.80. 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 posted its earnings results on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.04. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company had revenue of $971.00 million during the quarter, compared to analysts' expectations of $958.87 million. During the same quarter in the prior year, the company posted $1.98 earnings per share. Travel + Leisure's revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.56 per share. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.36%. Travel + Leisure's payout ratio is presently 38.36%.

Insider Activity

In other news, insider Michael Dean Brown bought 2,000 shares of Travel + Leisure stock in a transaction that occurred 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 purchase, the insider now directly owns 408,706 shares of the company's stock, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George Herrera sold 6,336 shares of the business'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 owns 2,759 shares in the company, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.02% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TNL shares. Morgan Stanley began coverage on shares of Travel + Leisure in a report on Monday, January 6th. They issued an "overweight" rating and a $67.00 target price on the stock. Barclays lifted their target price on Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. 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. Mizuho reiterated a "neutral" rating and set a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Finally, Bank of America raised shares of Travel + Leisure from an "underperform" rating to a "buy" rating and upped their price target for the company from $40.00 to $60.00 in a research note on Monday, January 27th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $62.20.

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.