PNC Financial Services Group Inc. Sells 460 Shares of Travel + Leisure Co. (NYSE:TNL)

PNC Financial Services Group Inc. cut its stake in Travel + Leisure Co. (NYSE:TNL) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,725 shares of the company’s stock after selling 460 shares during the period. PNC Financial Services Group Inc.’s holdings in Travel + Leisure were worth $339,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Atria Investments Inc lifted its holdings in shares of Travel + Leisure by 14.4% during the 3rd quarter. Atria Investments Inc now owns 5,345 shares of the company’s stock worth $246,000 after acquiring an additional 672 shares during the period. Empowered Funds LLC lifted its holdings in shares of Travel + Leisure by 57.7% during the 3rd quarter. Empowered Funds LLC now owns 15,008 shares of the company’s stock worth $692,000 after acquiring an additional 5,494 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Travel + Leisure by 21.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock worth $36,540,000 after acquiring an additional 138,153 shares during the period. Cerity Partners LLC bought a new position in shares of Travel + Leisure during the 3rd quarter worth about $892,000. Finally, Algert Global LLC lifted its holdings in shares of Travel + Leisure by 168.9% during the 3rd quarter. Algert Global LLC now owns 319,279 shares of the company’s stock worth $14,712,000 after acquiring an additional 200,549 shares during the period. 87.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Travel + Leisure

In other news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the sale, the director now owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the purchase, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $60.00 in a report on Monday, January 27th. The Goldman Sachs Group raised their price objective on shares of Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays raised their price objective on shares of Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Truist Financial increased their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Tigress Financial increased their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Travel + Leisure Trading Down 1.0 %

TNL opened at $47.12 on Friday. The stock has a market capitalization of $3.14 billion, a PE ratio of 8.07, a PEG ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a 1-year low of $39.91 and a 1-year high of $58.95. The firm has a 50-day moving average price of $53.37 and a two-hundred day moving average price of $50.70.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. The firm had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.98 EPS. On average, research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio (DPR) is presently 38.36%.

About Travel + Leisure

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.