Principal Financial Group Inc. Trims Stake in Travel + Leisure Co. (NYSE:TNL)

Principal Financial Group Inc. lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 24.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,741 shares of the company's stock after selling 82,127 shares during the quarter. Principal Financial Group Inc. owned about 0.37% of Travel + Leisure worth $11,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Travel + Leisure during the 1st quarter valued at $211,000. Sei Investments Co. boosted its holdings in Travel + Leisure by 138.4% in the first quarter. Sei Investments Co. now owns 116,671 shares of the company's stock worth $5,712,000 after acquiring an additional 67,740 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Travel + Leisure by 11.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 117,640 shares of the company's stock worth $5,760,000 after acquiring an additional 11,847 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Travel + Leisure during the first quarter valued at about $4,739,000. Finally, Seven Eight Capital LP raised its position in shares of Travel + Leisure by 20.6% in the 1st quarter. Seven Eight Capital LP now owns 21,029 shares of the company's stock valued at $1,030,000 after purchasing an additional 3,586 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Stock Down 0.5 %

Shares of NYSE:TNL traded down $0.27 during trading on Monday, hitting $53.51. 393,981 shares of the stock traded hands, compared to its average volume of 587,331. The company has a fifty day moving average price of $47.01 and a two-hundred day moving average price of $45.31. Travel + Leisure Co. has a 52-week low of $35.41 and a 52-week high of $54.79. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 0.78 and a beta of 1.61.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.08. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The company had revenue of $993.00 million during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The firm's revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts predict that Travel + Leisure Co. will post 5.77 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, December 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.74%. Travel + Leisure's dividend payout ratio is currently 33.96%.

Wall Street Analyst Weigh In

TNL has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Barclays lifted their price target on Travel + Leisure from $40.00 to $41.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price objective on Travel + Leisure from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, July 25th. Truist Financial decreased their target price on Travel + Leisure from $65.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, September 5th. Finally, Tigress Financial increased their price target on shares of Travel + Leisure from $58.00 to $64.00 and gave the stock a "buy" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.67.

Insider Buying and Selling

In related news, Director George Herrera sold 2,193 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the transaction, the director now directly owns 6,352 shares in the company, valued at approximately $269,832.96. The trade was a 25.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Geoffrey Richards sold 4,607 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $54.25, for a total transaction of $249,929.75. Following the sale, the insider now directly owns 120,602 shares of the company's stock, valued at approximately $6,542,658.50. This represents a 3.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,055 shares of company stock worth $4,544,170 in the last 90 days. Insiders own 4.02% of the company's stock.

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.