Summit Global Investments raised its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 98.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,375 shares of the company's stock after purchasing an additional 9,093 shares during the period. Summit Global Investments' holdings in Travel + Leisure were worth $927,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of Travel + Leisure in the fourth quarter valued at approximately $25,000. Versant Capital Management Inc grew its position in Travel + Leisure by 49.2% in the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company's stock worth $32,000 after purchasing an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Travel + Leisure by 314.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company's stock worth $33,000 after purchasing an additional 503 shares during the period. UMB Bank n.a. raised its position in shares of Travel + Leisure by 36.9% during the fourth quarter. UMB Bank n.a. now owns 757 shares of the company's stock valued at $38,000 after buying an additional 204 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Travel + Leisure by 30.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock valued at $39,000 after buying an additional 181 shares during the period. Institutional investors own 87.54% of the company's stock.
Wall Street Analysts Forecast Growth
TNL has been the subject of several recent research reports. Truist Financial upped their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a report on Friday, March 7th. Bank of America upgraded shares of Travel + Leisure from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. Mizuho restated a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Travel + Leisure from $56.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, Tigress Financial raised their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.70.
Get Our Latest Stock Report on Travel + Leisure
Insider Buying and Selling
In related news, insider Michael Dean Brown acquired 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired 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 directly owns 408,706 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available at the SEC website. Also, Director George Herrera sold 6,336 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of 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 position. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by insiders.
Travel + Leisure Stock Down 1.4 %
TNL stock traded down $0.67 during trading on Thursday, hitting $47.24. The company had a trading volume of 611,579 shares, compared to its average volume of 578,763. The firm has a 50-day moving average price of $53.20 and a 200-day moving average price of $50.85. Travel + Leisure Co. has a 12 month low of $39.91 and a 12 month high of $58.95. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.61.
Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.04. The company had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.98 earnings per share. Equities analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.
Travel + Leisure Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.56 per share. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.24 annualized dividend and a dividend yield of 4.74%. Travel + Leisure's payout ratio is currently 38.36%.
About Travel + Leisure
(
Free Report)
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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