Envestnet Asset Management Inc. Purchases 2,746 Shares of Travel + Leisure Co. (NYSE:TNL)

Envestnet Asset Management Inc. increased its position in shares of Travel + Leisure Co. (NYSE:TNL) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,831 shares of the company’s stock after purchasing an additional 2,746 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of Travel + Leisure worth $8,494,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State of Michigan Retirement System increased its holdings in Travel + Leisure by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 17,807 shares of the company’s stock valued at $872,000 after buying an additional 400 shares during the period. QRG Capital Management Inc. boosted its stake in Travel + Leisure by 2.5% in the 2nd quarter. QRG Capital Management Inc. now owns 18,005 shares of the company’s stock valued at $810,000 after buying an additional 432 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Travel + Leisure by 1.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,068 shares of the company’s stock valued at $1,668,000 after acquiring an additional 445 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Travel + Leisure during the 2nd quarter worth about $27,000. Finally, Allspring Global Investments Holdings LLC raised its position in Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after purchasing an additional 607 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Stock Up 1.4 %

NYSE:TNL opened at $46.59 on Friday. The stock’s 50 day moving average price is $43.67 and its two-hundred day moving average price is $44.72. Travel + Leisure Co. has a twelve month low of $32.10 and a twelve month high of $49.91. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 0.63 and a beta of 1.62.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The business had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $987.20 million. During the same quarter in the prior year, the business earned $1.33 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts anticipate that Travel + Leisure Co. will post 5.67 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. Travel + Leisure’s payout ratio is presently 36.83%.

Analyst Ratings Changes

Several research firms have issued reports on TNL. Barclays downgraded Travel + Leisure from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $46.00 to $40.00 in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Truist Financial reduced their price target on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Tigress Financial boosted their price target on shares of Travel + Leisure from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group began coverage on Travel + Leisure in a research note on Wednesday, September 18th. They set a “neutral” rating and a $44.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Amandine Robin-Caplan sold 3,246 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $41.84, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Travel + Leisure news, insider Amandine Robin-Caplan sold 3,246 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total value of $135,812.64. Following the sale, the insider now owns 24,491 shares in the company, valued at $1,024,703.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the sale, the director now directly owns 6,352 shares in the company, valued at $269,832.96. The disclosure for this sale can be found here. 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.