Sei Investments Co. Grows Position in Travel + Leisure Co. (NYSE:TNL)

Sei Investments Co. increased its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 22.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,009 shares of the company’s stock after acquiring an additional 26,338 shares during the quarter. Sei Investments Co. owned about 0.21% of Travel + Leisure worth $6,430,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TNL. Versant Capital Management Inc bought a new position in shares of Travel + Leisure during the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its stake in Travel + Leisure by 2,759.1% during the second 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 during the last quarter. Family Firm Inc. purchased a new position in Travel + Leisure during the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC bought a new stake in Travel + Leisure in the 2nd quarter worth approximately $36,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Travel + Leisure during the 2nd quarter worth approximately $38,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Travel + Leisure news, Director George Herrera sold 2,193 shares of the business’s 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 completion of the sale, the director now directly owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Amandine Robin-Caplan sold 3,246 shares of the firm’s stock in a transaction on 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 owns 24,491 shares in the company, valued at $1,024,703.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George Herrera sold 2,193 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the completion of the sale, the director now directly owns 6,352 shares of the company’s stock, valued at $269,832.96. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Travel + Leisure in a report on Wednesday, September 18th. They issued a “neutral” rating and a $44.00 target price for the company. Tigress Financial lifted their price objective on shares of Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Barclays downgraded Travel + Leisure from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $46.00 to $40.00 in a research report on Thursday, September 26th. Finally, Truist Financial dropped 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.33.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $46.08 on Tuesday. The firm has a market capitalization of $3.21 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 0.64 and a beta of 1.62. The business has a 50 day simple moving average of $43.62 and a two-hundred day simple moving average of $44.72. Travel + Leisure Co. has a 1 year low of $32.10 and a 1 year high of $49.91.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.52 earnings per share (EPS) 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 company had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $987.20 million. During the same quarter in the previous year, the business earned $1.33 EPS. Travel + Leisure’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that Travel + Leisure Co. will post 5.67 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, September 13th. Travel + Leisure’s payout ratio is presently 36.83%.

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.