Norges Bank Buys Shares of 907,901 Travel + Leisure Co. (NYSE:TNL)

Norges Bank bought a new position 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. The firm bought 907,901 shares of the company's stock, valued at approximately $45,804,000. Norges Bank owned approximately 1.33% of Travel + Leisure at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TNL. Cerity Partners LLC acquired a new position in Travel + Leisure in the third quarter worth $892,000. FMR LLC boosted its holdings in shares of Travel + Leisure by 28.5% in the 3rd quarter. FMR LLC now owns 261,599 shares of the company's stock valued at $12,054,000 after buying an additional 58,008 shares during the period. Captrust Financial Advisors bought a new stake in shares of Travel + Leisure during the 3rd quarter valued at about $224,000. Verition Fund Management LLC raised its stake in Travel + Leisure by 207.6% during the third quarter. Verition Fund Management LLC now owns 38,250 shares of the company's stock worth $1,763,000 after acquiring an additional 25,815 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Travel + Leisure by 18.8% in the third quarter. Janus Henderson Group PLC now owns 34,730 shares of the company's stock worth $1,600,000 after acquiring an additional 5,503 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Stock Up 13.2 %

Travel + Leisure stock traded up $5.13 during trading hours on Wednesday, hitting $43.91. 1,306,995 shares of the company traded hands, compared to its average volume of 618,076. The firm's 50-day simple moving average is $50.80 and its two-hundred day simple moving average is $50.86. The firm has a market cap of $2.93 billion, a P/E ratio of 7.52, a P/E/G ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95.

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Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.04. The business 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%. The business'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 earnings per share. On average, equities research analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date was Monday, March 17th. This is an increase from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's payout ratio is currently 38.36%.

Insider Activity

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of the company'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 transaction, the director now owns 2,759 shares of the company's stock, valued at approximately $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction dated 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 completion of the purchase, the insider now owns 408,706 shares in the company, valued at approximately $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. Insiders own 4.02% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on TNL. Morgan Stanley started coverage on Travel + Leisure in a report on Monday, January 6th. They set an "overweight" rating and a $67.00 target price for the company. Tigress Financial upped their price objective on Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. raised their target price on Travel + Leisure from $56.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. The Goldman Sachs Group boosted their price target on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, Mizuho reiterated a "neutral" rating and issued a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Travel + Leisure has a consensus rating of "Moderate Buy" and a consensus target price of $63.70.

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.