Victory Capital Management Inc. Sells 9,648 Shares of Travel + Leisure Co. (NYSE:TNL)

Victory Capital Management Inc. lowered its position in Travel + Leisure Co. (NYSE:TNL) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 206,080 shares of the company’s stock after selling 9,648 shares during the quarter. Victory Capital Management Inc. owned about 0.30% of Travel + Leisure worth $9,496,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. increased its holdings in shares of Travel + Leisure by 2.5% in the second quarter. QRG Capital Management Inc. now owns 18,005 shares of the company’s stock worth $810,000 after purchasing an additional 432 shares during the period. UMB Bank n.a. increased its holdings in shares of Travel + Leisure by 1,948.1% in the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 526 shares during the period. Versant Capital Management Inc bought a new position in shares of Travel + Leisure in the second quarter worth $27,000. Allspring Global Investments Holdings LLC increased its holdings 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 period. Finally, Atria Investments Inc increased its holdings in shares of Travel + Leisure by 14.4% in the third quarter. Atria Investments Inc now owns 5,345 shares of the company’s stock worth $246,000 after purchasing an additional 672 shares during the period. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Up 2.3 %

NYSE TNL opened at $54.16 on Friday. The company has a 50-day simple moving average of $47.92 and a two-hundred day simple moving average of $45.54. Travel + Leisure Co. has a 12-month low of $35.41 and a 12-month high of $54.79. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.76 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.49 by $0.08. The firm had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 earnings per share. Equities analysts expect that Travel + Leisure Co. will post 5.77 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.69%. Travel + Leisure’s payout ratio is presently 33.96%.

Insider Buying and Selling

In related news, insider Geoffrey Richards sold 4,607 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $54.25, for a total value of $249,929.75. Following the sale, the insider now directly owns 120,602 shares of the company’s stock, valued at $6,542,658.50. This trade represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Amandine Robin-Caplan sold 3,246 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the sale, the insider now owns 24,491 shares of the company’s stock, valued at $1,024,703.44. This trade represents a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,055 shares of company stock valued at $4,544,170 over the last ninety days. 4.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TNL. Truist Financial decreased their price target on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Tigress Financial upped their target price on shares of Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group upped their target price on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Barclays upped their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

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.