Arrowstreet Capital Limited Partnership Purchases 79,922 Shares of Travel + Leisure Co. (NYSE:TNL)

Arrowstreet Capital Limited Partnership boosted its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 814,319 shares of the company's stock after purchasing an additional 79,922 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.19% of Travel + Leisure worth $41,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pictet Asset Management Holding SA lifted its position in shares of Travel + Leisure by 19.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 10,271 shares of the company's stock worth $518,000 after buying an additional 1,638 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Travel + Leisure in the 4th quarter worth approximately $2,802,000. Norges Bank purchased a new stake in shares of Travel + Leisure during the 4th quarter worth approximately $45,804,000. Loomis Sayles & Co. L P boosted its position in shares of Travel + Leisure by 3.5% during the 4th quarter. Loomis Sayles & Co. L P now owns 301,317 shares of the company's stock valued at $15,201,000 after acquiring an additional 10,265 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Travel + Leisure by 1.2% in the fourth quarter. LPL Financial LLC now owns 37,983 shares of the company's stock valued at $1,916,000 after purchasing an additional 468 shares in the last quarter. Institutional investors own 87.54% of the company's stock.

Insider Transactions at Travel + Leisure

In related news, insider Michael Dean Brown bought 2,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $46.66 per share, with a total value of $93,320.00. Following the transaction, the insider now owns 408,706 shares of the company's stock, valued at $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George Herrera sold 6,336 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares of the company's stock, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.02% of the company's stock.

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Travel + Leisure Trading Down 3.2 %

Shares of NYSE TNL traded down $1.32 during midday trading on Monday, hitting $39.59. The company's stock had a trading volume of 1,127,711 shares, compared to its average volume of 614,227. The business's 50 day moving average is $51.87 and its two-hundred day moving average is $51.04. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $58.95. The firm has a market cap of $2.64 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 earnings per share 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 analyst estimates of $958.87 million. During the same quarter last year, the business posted $1.98 EPS. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal 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 issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.66%. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. The ex-dividend date was Monday, March 17th. Travel + Leisure's dividend payout ratio is currently 38.36%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TNL. 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. Truist Financial upped their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Morgan Stanley started coverage on Travel + Leisure in a research note on Monday, January 6th. They set an "overweight" rating and a $67.00 price objective on the stock. Tigress Financial upped their price objective on Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lifted their target price on Travel + Leisure from $56.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and an average price target of $63.70.

Travel + Leisure 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.