Principal Financial Group Inc. Sells 82,127 Shares of Travel + Leisure Co. (NYSE:TNL)

Principal Financial Group Inc. trimmed its stake in Travel + Leisure Co. (NYSE:TNL) by 24.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,741 shares of the company’s stock after selling 82,127 shares during the period. Principal Financial Group Inc. owned 0.37% of Travel + Leisure worth $11,508,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. UMB Bank n.a. grew its holdings in 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 last quarter. Allspring Global Investments Holdings LLC increased its position in Travel + Leisure by 2,759.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after buying an additional 607 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Travel + Leisure in the second quarter valued at about $36,000. DekaBank Deutsche Girozentrale acquired a new stake in Travel + Leisure in the second quarter worth about $38,000. Finally, Brooklyn Investment Group acquired a new stake in Travel + Leisure in the third quarter worth about $43,000. 87.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TNL has been the subject of several research analyst reports. Truist Financial increased their price objective on shares of Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus lifted their price objective on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their target price on Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Tigress Financial lifted their price target on Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Barclays boosted their price target on Travel + Leisure from $41.00 to $48.00 and gave the company an “underweight” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Travel + Leisure Stock Down 0.9 %

Shares of TNL opened at $50.55 on Monday. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 0.77 and a beta of 1.63. Travel + Leisure Co. has a 52 week low of $37.99 and a 52 week high of $56.91. The stock’s 50-day moving average price is $52.13 and its 200-day moving average price is $47.17.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.49 by $0.08. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.54 EPS. As a group, equities analysts anticipate that Travel + Leisure Co. will post 5.75 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a yield of 3.96%. Travel + Leisure’s dividend payout ratio is presently 33.96%.

Insider Buying and Selling at Travel + Leisure

In related news, Director Stephen P. Holmes sold 80,000 shares of Travel + Leisure stock in a transaction on Friday, October 25th. The shares were sold at an average price of $47.55, for a total value of $3,804,000.00. Following the sale, the director now owns 362,947 shares of the company’s stock, valued at approximately $17,258,129.85. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geoffrey Richards sold 5,009 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total transaction of $261,269.44. Following the transaction, the insider now owns 125,209 shares of the company’s stock, valued at $6,530,901.44. This represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,016 shares of company stock valued at $4,846,863. Corporate insiders own 4.02% of the company’s stock.

Travel + Leisure 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.