The Manufacturers Life Insurance Company Trims Stake in Travel + Leisure Co. (NYSE:TNL)

The Manufacturers Life Insurance Company lessened its holdings in Travel + Leisure Co. (NYSE:TNL) by 3.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,757 shares of the company’s stock after selling 1,858 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Travel + Leisure worth $2,688,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc purchased a new stake in shares of Travel + Leisure in the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Travel + Leisure by 2,759.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock worth $28,000 after purchasing an additional 607 shares during the last quarter. Family Firm Inc. purchased a new stake in Travel + Leisure in the second quarter valued at approximately $31,000. Larson Financial Group LLC bought a new stake in Travel + Leisure during the second quarter valued at approximately $36,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Travel + Leisure in the 2nd quarter worth approximately $38,000. Institutional investors own 87.54% of the company’s stock.

Insider Activity at Travel + Leisure

In related news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the sale, the director now owns 6,352 shares in the company, valued at $269,832.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the sale, the director now owns 6,352 shares in the company, valued at $269,832.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Amandine Robin-Caplan sold 3,246 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total transaction of $135,812.64. Following the sale, the insider now owns 24,491 shares in the company, valued at approximately $1,024,703.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TNL has been the subject of a number of research analyst reports. Tigress Financial lifted their price objective on shares of Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Barclays cut shares of Travel + Leisure from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $46.00 to $40.00 in a research report on Thursday, September 26th. Truist Financial decreased their price objective on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, The Goldman Sachs Group began coverage on Travel + Leisure in a report on Wednesday, September 18th. They set a “neutral” rating and a $44.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Travel + Leisure Stock Down 0.7 %

Shares of NYSE TNL opened at $45.62 on Wednesday. Travel + Leisure Co. has a 52 week low of $32.10 and a 52 week high of $49.91. The firm’s fifty day moving average is $43.58 and its 200 day moving average is $44.70. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 0.64 and a beta of 1.62.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, July 24th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $987.20 million. Travel + Leisure had a net margin of 11.35% and a negative return on equity of 46.63%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 earnings per share. Equities research analysts anticipate that Travel + Leisure Co. will post 5.67 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Friday, September 13th. Travel + Leisure’s dividend payout ratio (DPR) is currently 36.83%.

Travel + Leisure Company 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.