KLP Kapitalforvaltning AS Invests $752,000 in Travel + Leisure Co. (NYSE:TNL)

KLP Kapitalforvaltning AS acquired a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,900 shares of the company's stock, valued at approximately $752,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC increased its position in shares of Travel + Leisure by 0.8% in the fourth quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company's stock valued at $78,984,000 after buying an additional 12,111 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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. Bank of New York Mellon Corp increased its holdings in Travel + Leisure by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 905,667 shares of the company's stock valued at $45,691,000 after acquiring an additional 45,447 shares in the last quarter. Great Lakes Advisors LLC raised its position in Travel + Leisure by 31.5% during the fourth quarter. Great Lakes Advisors LLC now owns 313,768 shares of the company's stock worth $15,830,000 after acquiring an additional 75,075 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Travel + Leisure by 28.5% in the third quarter. FMR LLC now owns 261,599 shares of the company's stock valued at $12,054,000 after purchasing an additional 58,008 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TNL. Barclays raised their price objective on shares of Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. The Goldman Sachs Group boosted their price target on Travel + Leisure from $49.00 to $59.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Tigress Financial increased their price objective on Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Truist Financial boosted their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Travel + Leisure from $56.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $63.70.

Travel + Leisure Stock Down 4.4 %

Shares of TNL traded down $1.88 during mid-day trading on Friday, hitting $40.96. The company had a trading volume of 1,437,568 shares, compared to its average volume of 612,173. Travel + Leisure Co. has a 1-year low of $39.80 and a 1-year high of $58.95. The business's 50-day simple moving average is $52.17 and its 200-day simple moving average is $51.08. The stock has a market cap of $2.73 billion, a PE ratio of 7.01, a P/E/G ratio of 0.67 and a beta of 1.40.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $971.00 million for the quarter, compared to analyst estimates of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. Travel + Leisure's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $1.98 EPS. On average, sell-side analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The firm also recently declared 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 represents a $2.24 dividend on an annualized basis and a yield of 5.47%. 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 payout ratio is 38.36%.

Insiders Place Their Bets

In other Travel + Leisure news, insider Michael Dean Brown bought 2,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $46.66 per share, with a total value of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares in the company, valued at approximately $19,070,221.96. This trade represents a 0.49 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction on 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 owns 2,759 shares of the company's stock, valued at approximately $129,121.20. This trade represents a 69.66 % decrease in their position. The disclosure for this sale can be found here. 4.02% of the stock is owned by insiders.

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.