Corient Private Wealth LP Buys New Stake in Travel + Leisure Co. $TNL

Corient Private Wealth LP bought a new position in Travel + Leisure Co. (NYSE:TNL) during the 2nd quarter, Holdings Channel reports. The fund bought 174,408 shares of the company’s stock, valued at approximately $13,330,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Travel + Leisure in the second quarter valued at about $543,957,000. Invesco Ltd. lifted its position in shares of Travel + Leisure by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,632,657 shares of the company’s stock worth $256,211,000 after purchasing an additional 146,484 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Travel + Leisure by 46.8% during the 2nd 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 last quarter. LSV Asset Management boosted its stake in Travel + Leisure by 1.1% during the 4th quarter. LSV Asset Management now owns 1,612,657 shares of the company’s stock valued at $113,741,000 after purchasing an additional 17,377 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Travel + Leisure by 21.7% during the 1st quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company’s stock valued at $90,329,000 after purchasing an additional 232,711 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insider Transactions at Travel + Leisure

In related news, Director George Herrera sold 500 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the transaction, the director directly owned 1,353 shares in the company, valued at approximately $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Thomas Michael Duncan sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total value of $1,483,200.00. Following the completion of the transaction, the chief accounting officer directly owned 5,307 shares of the company’s stock, valued at approximately $393,567.12. This trade represents a 79.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 115,135 shares of company stock worth $8,505,899 over the last quarter. 4.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TNL has been the topic of a number of research analyst reports. Barclays raised their target price on Travel + Leisure from $74.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Morgan Stanley increased their price objective on Travel + Leisure from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. Wells Fargo & Company raised their price objective on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Susquehanna assumed coverage on shares of Travel + Leisure in a research report on Tuesday, August 18th. They set a “positive” rating and a $95.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus price target of $87.82.

Travel + Leisure Stock Performance

NYSE TNL opened at $71.27 on Friday. The firm has a 50-day simple moving average of $74.84 and a 200 day simple moving average of $72.15. Travel + Leisure Co. has a twelve month low of $58.07 and a twelve month high of $81.00. The stock has a market cap of $4.36 billion, a PE ratio of 19.47, a PEG ratio of 0.48 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.88. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. Research analysts forecast that Travel + Leisure Co. will post 7.7 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Travel + Leisure’s dividend payout ratio (DPR) is presently 65.57%.

Travel + Leisure 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.