Prudential Financial Inc. Reduces Stock Position in Travel + Leisure Co. (NYSE:TNL)

Prudential Financial Inc. lessened its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 71.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,668 shares of the company's stock after selling 247,251 shares during the period. Prudential Financial Inc. owned 0.14% of Travel + Leisure worth $4,978,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Travel + Leisure by 21.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company's stock valued at $36,540,000 after purchasing an additional 138,153 shares in the last quarter. Barclays PLC increased its position in Travel + Leisure by 80.4% in the 3rd quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after buying an additional 100,440 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Travel + Leisure during the 4th quarter worth approximately $4,639,000. Raymond James Financial Inc. bought a new position in Travel + Leisure in the fourth quarter worth approximately $3,850,000. Finally, Great Lakes Advisors LLC grew its stake in Travel + Leisure by 31.5% in the fourth quarter. Great Lakes Advisors LLC now owns 313,768 shares of the company's stock valued at $15,830,000 after acquiring an additional 75,075 shares during the period. Institutional investors and hedge funds own 87.54% of the company's stock.

Insider Buying and Selling

In other news, Director George Herrera sold 6,336 shares of the stock in a transaction 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 represents a 69.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 purchased at an average cost of $46.66 per share, with a total value of $93,320.00. Following the acquisition, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. The trade was a 0.49 % increase in their position. The disclosure for this purchase can be found here. 4.02% of the stock is currently owned by insiders.

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Travel + Leisure Stock Down 4.4 %

TNL stock traded down $1.88 during midday trading on Friday, hitting $40.96. The company's stock had a trading volume of 1,437,568 shares, compared to its average volume of 612,173. Travel + Leisure Co. has a 1 year low of $39.80 and a 1 year high of $58.95. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 0.67 and a beta of 1.40. The stock's 50-day moving average price is $52.17 and its 200 day moving average price is $51.02.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly 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. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company had revenue of $971.00 million for the quarter, compared to the consensus estimate of $958.87 million. During the same period in the previous year, the firm earned $1.98 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently announced 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 an increase 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 5.47%. The ex-dividend date was Monday, March 17th. Travel + Leisure's dividend payout ratio is currently 38.36%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Travel + Leisure from $56.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Barclays raised their price objective on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. The Goldman Sachs Group boosted their target price on shares of Travel + Leisure from $49.00 to $59.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Tigress Financial raised their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, Morgan Stanley assumed coverage on Travel + Leisure in a report on Monday, January 6th. They set an "overweight" rating and a $67.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $63.70.

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.