Raymond James Financial Inc. Makes New Investment in Travel + Leisure Co. (NYSE:TNL)

Raymond James Financial Inc. bought a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 76,306 shares of the company's stock, valued at approximately $3,850,000. Raymond James Financial Inc. owned approximately 0.11% of Travel + Leisure as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in Travel + Leisure by 30.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock worth $39,000 after purchasing an additional 181 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Travel + Leisure by 1.0% during the 4th quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock worth $986,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. boosted its holdings 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 worth $38,000 after buying an additional 204 shares during the last quarter. Versant Capital Management Inc grew its position in Travel + Leisure by 49.2% during 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 during the period. Finally, Hourglass Capital LLC increased its holdings in Travel + Leisure by 0.6% during the fourth quarter. Hourglass Capital LLC now owns 36,230 shares of the company's stock worth $1,828,000 after buying an additional 230 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Truist Financial increased their price objective on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a report on Friday, March 7th. Tigress Financial boosted their target price on Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Mizuho reaffirmed a "neutral" rating and set a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Finally, Morgan Stanley decreased their price objective on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.20.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Michael Dean Brown acquired 2,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares of the company's stock, valued at $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $296,524.80. Following the completion of the transaction, the director now owns 2,759 shares in the company, valued at approximately $129,121.20. This trade represents a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.75% of the company's stock.

Travel + Leisure Stock Up 0.9 %

Shares of NYSE TNL opened at $44.15 on Friday. The company has a market cap of $2.94 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95. The business has a 50-day simple moving average of $47.46 and a two-hundred day simple moving average of $50.53.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.01. The company had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. Equities research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently declared 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 is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure's payout ratio is 37.40%.

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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