Ethic Inc. Sells 9,106 Shares of Travel + Leisure Co. $TNL

Ethic Inc. reduced its position in shares of Travel + Leisure Co. (NYSE:TNL) by 29.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,463 shares of the company’s stock after selling 9,106 shares during the quarter. Ethic Inc.’s holdings in Travel + Leisure were worth $1,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TNL. Norges Bank acquired a new stake in Travel + Leisure in the fourth quarter valued at approximately $62,162,000. AQR Capital Management LLC raised its position in shares of Travel + Leisure by 46.8% during the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after purchasing an additional 855,151 shares during the period. Gotham Asset Management LLC raised its position in shares of Travel + Leisure by 139.2% during the fourth quarter. Gotham Asset Management LLC now owns 631,336 shares of the company’s stock worth $44,528,000 after purchasing an additional 367,356 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Travel + Leisure by 68.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 885,105 shares of the company’s stock worth $62,427,000 after purchasing an additional 359,186 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Travel + Leisure by 124.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 567,478 shares of the company’s stock worth $40,024,000 after purchasing an additional 314,481 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.

Insider Transactions at Travel + Leisure

In related news, insider Kimberly Marshall sold 32,691 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total transaction of $2,451,825.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Geoffrey Richards sold 33,744 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the transaction, the insider owned 1,600 shares in the company, valued at approximately $121,040. This trade represents a 95.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 95,135 shares of company stock worth $7,022,699 in the last quarter. 4.01% of the stock is currently owned by corporate insiders.

Travel + Leisure Stock Up 0.0%

Shares of NYSE:TNL opened at $74.70 on Friday. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.51 and a beta of 1.17. Travel + Leisure Co. has a 12-month low of $57.86 and a 12-month high of $81.00. The business’s 50 day moving average is $75.10 and its 200 day moving average is $72.00.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. Travel + Leisure’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Travel + Leisure Co. will post 7.68 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. Travel + Leisure’s dividend payout ratio is presently 65.57%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Mizuho upped their price objective on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Travel + Leisure in a report on Tuesday, July 21st. Zacks Research raised shares of Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Finally, Citigroup restated a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $86.90.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.