July 13, 2024

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Travel + Leisure Co. (NYSE:TNL) Stock Position Cut by American International Group Inc.

4 min read

American International Group Inc. trimmed its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,084 shares of the company’s stock after selling 6,342 shares during the quarter. American International Group Inc. owned about 0.14% of Travel + Leisure worth $3,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Travel + Leisure in the fourth quarter worth approximately $34,967,000. AQR Capital Management LLC boosted its stake in Travel + Leisure by 34.7% during the third quarter. AQR Capital Management LLC now owns 1,737,814 shares of the company’s stock valued at $63,830,000 after buying an additional 447,938 shares in the last quarter. Vanguard Group Inc. grew its holdings in Travel + Leisure by 3.2% during the third quarter. Vanguard Group Inc. now owns 10,255,690 shares of the company’s stock worth $376,691,000 after acquiring an additional 322,624 shares during the period. Hsbc Holdings PLC raised its position in Travel + Leisure by 747.6% in the third quarter. Hsbc Holdings PLC now owns 159,662 shares of the company’s stock worth $5,864,000 after acquiring an additional 140,826 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Travel + Leisure by 87.9% in the 4th quarter. Retirement Systems of Alabama now owns 281,799 shares of the company’s stock valued at $11,016,000 after acquiring an additional 131,796 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Stock Up 0.3 %

Shares of NYSE:TNL opened at $44.15 on Monday. The company has a market cap of $3.15 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 2.46 and a beta of 1.63. The company’s fifty day moving average is $44.55 and its two-hundred day moving average is $43.23. Travel + Leisure Co. has a 12-month low of $32.10 and a 12-month high of $49.02.

Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $916.00 million during the quarter, compared to the consensus estimate of $904.54 million. During the same period in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Travel + Leisure Co. will post 5.53 earnings per share for the current year.

Travel + Leisure Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TNL. Truist Financial boosted their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Mizuho started coverage on Travel + Leisure in a research note on Tuesday, March 26th. They set a “neutral” rating and a $55.00 price objective for the company. Finally, Barclays boosted their target price on Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

Read Our Latest Analysis on Travel + Leisure

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.

Further Reading

Want to see what other hedge funds are holding TNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travel + Leisure Co. (NYSE:TNL – Free Report).

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

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