June 16, 2024

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Principal Financial Group Inc. Sells 7,028 Shares of Travel + Leisure Co. (NYSE:TNL)

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Principal Financial Group Inc. cut its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 361,356 shares of the company’s stock after selling 7,028 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Travel + Leisure worth $14,125,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Allworth Financial LP boosted its position in shares of Travel + Leisure by 147.5% during the 4th quarter. Allworth Financial LP now owns 698 shares of the company’s stock worth $27,000 after purchasing an additional 416 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Travel + Leisure by 334.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 764 shares of the company’s stock worth $30,000 after acquiring an additional 588 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Travel + Leisure in the fourth quarter valued at approximately $36,000. Arlington Trust Co LLC bought a new stake in shares of Travel + Leisure during the fourth quarter valued at approximately $53,000. Finally, Quent Capital LLC raised its position in shares of Travel + Leisure by 23.6% during the fourth quarter. Quent Capital LLC now owns 1,454 shares of the company’s stock worth $57,000 after purchasing an additional 278 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TNL has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Mizuho assumed coverage on shares of Travel + Leisure in a report on Tuesday, March 26th. They issued a “neutral” rating and a $55.00 target price on the stock. Barclays lifted their price target on Travel + Leisure from $44.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, JMP Securities initiated coverage on Travel + Leisure in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

Get Our Latest Research Report on Travel + Leisure

Travel + Leisure Stock Performance

Travel + Leisure stock opened at $44.11 on Friday. The stock has a market cap of $3.14 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 2.41 and a beta of 1.63. Travel + Leisure Co. has a fifty-two week low of $32.10 and a fifty-two week high of $49.02. The firm’s 50-day simple moving average is $45.73 and its 200 day simple moving average is $42.11.

Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. Travel + Leisure had a negative return on equity of 44.34% and a net margin of 10.54%. The company had revenue of $916.00 million during the quarter, compared to the consensus estimate of $904.54 million. During the same period last year, the business posted $0.89 earnings per share. Travel + Leisure’s revenue was up 4.2% on a year-over-year basis. As a group, analysts predict that Travel + Leisure Co. will post 5.52 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, June 14th. Travel + Leisure’s dividend payout ratio (DPR) is currently 36.83%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider James J. Savina sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $47.00, for a total value of $282,000.00. Following the transaction, the insider now directly owns 26,442 shares in the company, valued at $1,242,774. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director George Herrera sold 2,969 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $45.33, for a total transaction of $134,584.77. Following the completion of the transaction, the director now owns 2,193 shares in the company, valued at approximately $99,408.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James J. Savina sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $47.00, for a total value of $282,000.00. Following the completion of the sale, the insider now owns 26,442 shares in the company, valued at $1,242,774. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,922 shares of company stock worth $1,318,358. 4.02% of the stock is owned by company insiders.

Travel + Leisure Company Profile

(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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Institutional Ownership by Quarter for Travel + Leisure (NYSE:TNL)



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