Principal Financial Group Inc. Has $11.51 Million Position in Travel + Leisure Co. (NYSE:TNL)

Principal Financial Group Inc. lessened its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 24.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 249,741 shares of the company's stock after selling 82,127 shares during the period. Principal Financial Group Inc. owned 0.37% of Travel + Leisure worth $11,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNL. UMB Bank n.a. grew its holdings in Travel + Leisure by 1,948.1% during the 3rd quarter. UMB Bank n.a. now owns 553 shares of the company's stock worth $25,000 after acquiring an additional 526 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Travel + Leisure by 2,759.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company's stock valued at $28,000 after purchasing an additional 607 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Travel + Leisure in the second quarter valued at approximately $36,000. DekaBank Deutsche Girozentrale bought a new position in Travel + Leisure in the 2nd quarter worth approximately $38,000. Finally, Brooklyn Investment Group bought a new position in Travel + Leisure in the 3rd quarter worth approximately $43,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on TNL. Barclays increased their price objective on Travel + Leisure from $41.00 to $48.00 and gave the company an "underweight" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lifted their price objective on Travel + Leisure from $56.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Stifel Nicolaus upped their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Truist Financial lifted their price target on shares of Travel + Leisure from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Tigress Financial increased their price objective on shares of Travel + Leisure from $58.00 to $64.00 and gave the company 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 seven have issued a buy rating to the company's stock. According to MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and a consensus price target of $58.50.

Insider Buying and Selling

In other news, Director Stephen P. Holmes sold 80,000 shares of the company's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $47.55, for a total transaction of $3,804,000.00. Following the completion of the transaction, the director now directly owns 362,947 shares of the company's stock, valued at $17,258,129.85. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geoffrey Richards sold 9,400 shares of Travel + Leisure stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.56, for a total value of $531,664.00. Following the completion of the sale, the insider now directly owns 111,202 shares in the company, valued at approximately $6,289,585.12. This represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 99,016 shares of company stock valued at $4,846,863. 4.02% of the stock is owned by corporate insiders.

Travel + Leisure Price Performance

TNL traded down $0.51 during mid-day trading on Monday, hitting $50.04. The stock had a trading volume of 371,145 shares, compared to its average volume of 582,509. The stock's fifty day simple moving average is $52.13 and its 200-day simple moving average is $47.18. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.77 and a beta of 1.63. Travel + Leisure Co. has a 1-year low of $37.99 and a 1-year high of $56.91.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.49 by $0.08. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $1.54 EPS. The firm's revenue was up .7% compared to the same quarter last year. As a group, research analysts expect that Travel + Leisure Co. will post 5.75 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.50 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 4.00%. Travel + Leisure's dividend payout ratio is presently 33.96%.

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.