Principal Financial Group Inc. Lowers Position in Travel + Leisure Co. (NYSE:TNL)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Copeland Capital Management LLC raised its stake in shares of Travel + Leisure by 0.9% in the third quarter. Copeland Capital Management LLC now owns 1,553,470 shares of the company’s stock worth $71,584,000 after purchasing an additional 13,870 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Travel + Leisure by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,412,870 shares of the company’s stock worth $63,547,000 after purchasing an additional 57,587 shares during the last quarter. LSV Asset Management grew its holdings in shares of Travel + Leisure by 23.1% in the second quarter. LSV Asset Management now owns 725,381 shares of the company’s stock valued at $32,628,000 after acquiring an additional 136,281 shares in the last quarter. Swedbank AB bought a new position in shares of Travel + Leisure in the first quarter valued at approximately $33,598,000. Finally, Millennium Management LLC grew its holdings in shares of Travel + Leisure by 440.7% in the second quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock valued at $27,624,000 after acquiring an additional 500,554 shares in the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Travel + Leisure Price Performance

Travel + Leisure stock opened at $53.78 on Monday. Travel + Leisure Co. has a one year low of $35.41 and a one year high of $54.79. The business has a fifty day moving average price of $47.01 and a 200-day moving average price of $45.31. The firm has a market capitalization of $3.68 billion, a P/E ratio of 9.13, a PEG ratio of 0.78 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The company had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $1.54 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. Sell-side analysts expect that Travel + Leisure Co. will post 5.77 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend on an annualized basis and a yield of 3.72%. Travel + Leisure’s payout ratio is 33.96%.

Analyst Ratings Changes

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

Insider Buying and Selling at Travel + Leisure

In other news, 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 transaction, the insider now directly owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. This trade represents a 11.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen P. Holmes sold 80,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 362,947 shares in the company, valued at $17,258,129.85. This trade represents a 18.06 % 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 worth $4,544,170 over the last 90 days. Corporate insiders own 4.02% of the company’s stock.

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.