Allspring Global Investments Holdings LLC Increases Holdings in Travel + Leisure Co. (NYSE:TNL)

Allspring Global Investments Holdings LLC increased its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 2,759.1% during the second quarter, HoldingsChannel.com reports. The firm owned 629 shares of the company’s stock after buying an additional 607 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Travel + Leisure were worth $28,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Family Firm Inc. purchased a new stake in Travel + Leisure in the 2nd quarter worth approximately $31,000. Nisa Investment Advisors LLC grew its position in Travel + Leisure by 10.8% during the second quarter. Nisa Investment Advisors LLC now owns 55,355 shares of the company’s stock worth $2,490,000 after buying an additional 5,400 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Travel + Leisure by 6.7% in the 2nd quarter. Raymond James & Associates now owns 36,944 shares of the company’s stock valued at $1,662,000 after acquiring an additional 2,326 shares in the last quarter. TCW Group Inc. boosted its position in shares of Travel + Leisure by 16.8% during the 2nd quarter. TCW Group Inc. now owns 427,958 shares of the company’s stock valued at $19,250,000 after acquiring an additional 61,443 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Travel + Leisure by 37.0% during the second quarter. Diversified Trust Co now owns 16,104 shares of the company’s stock worth $724,000 after purchasing an additional 4,348 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Performance

Shares of TNL stock opened at $42.37 on Tuesday. Travel + Leisure Co. has a fifty-two week low of $32.10 and a fifty-two week high of $49.91. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 0.58 and a beta of 1.62. The stock’s 50-day simple moving average is $44.26 and its 200-day simple moving average is $44.84.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, July 24th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $987.20 million. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. Travel + Leisure’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. As a group, equities analysts forecast 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 will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, September 13th. Travel + Leisure’s dividend payout ratio is currently 36.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TNL. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Truist Financial reduced their price objective on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted 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. Finally, Tigress Financial raised their price target on Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.63.

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.