Pinebridge Investments L.P. Acquires 13,014 Shares of Travel + Leisure Co. (NYSE:TNL)

Pinebridge Investments L.P. increased its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,502 shares of the company's stock after buying an additional 13,014 shares during the quarter. Pinebridge Investments L.P. owned 0.06% of Travel + Leisure worth $2,195,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TNL. Jones Financial Companies Lllp acquired a new stake in shares of Travel + Leisure in the 4th quarter valued at approximately $25,000. Versant Capital Management Inc boosted its position in Travel + Leisure by 49.2% in the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company's stock valued at $32,000 after buying an additional 210 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Travel + Leisure by 314.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company's stock valued at $33,000 after buying an additional 503 shares in the last quarter. Natixis acquired a new position in shares of Travel + Leisure during the fourth quarter worth $37,000. Finally, UMB Bank n.a. lifted its stake in shares of Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company's stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $44.15 on Monday. The business's 50-day moving average is $47.46 and its 200-day moving average is $50.56. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $58.95. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 7.56, 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 data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. Analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 5.07%. The ex-dividend date was Monday, March 17th. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's dividend payout ratio is 37.40%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TNL. Mizuho reaffirmed a "neutral" rating and issued a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Truist Financial raised their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a report on Friday, March 7th. Barclays reduced their target price on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a report on Thursday. Tigress Financial lifted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Travel + Leisure currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.20.

Insider Activity

In other news, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction on Thursday, March 13th. The stock was purchased at an average price 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 of the company's stock, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 6,336 shares of the company's stock in a transaction that occurred 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 directly owns 2,759 shares in the company, valued at $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. 3.75% of the stock is currently owned by company insiders.

About Travel + Leisure

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.

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