The Manufacturers Life Insurance Company Cuts Position in Travel + Leisure Co. (NYSE:TNL)

The Manufacturers Life Insurance Company reduced its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,315 shares of the company’s stock after selling 3,442 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Travel + Leisure were worth $2,595,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. UMB Bank n.a. lifted its holdings in shares of Travel + Leisure by 1,948.1% during the 3rd quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after acquiring an additional 526 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Travel + Leisure by 2,759.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock worth $28,000 after buying an additional 607 shares during the period. Family Firm Inc. acquired a new stake in shares of Travel + Leisure in the second quarter valued at about $31,000. Larson Financial Group LLC purchased a new stake in shares of Travel + Leisure during the 2nd quarter valued at about $36,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Travel + Leisure during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 87.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TNL. Tigress Financial increased their price objective on shares of Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price target on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial upped their price objective on shares of Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group lifted their target price on Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Barclays increased their price target on Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.80.

Travel + Leisure Stock Down 0.2 %

Shares of Travel + Leisure stock opened at $55.30 on Monday. Travel + Leisure Co. has a fifty-two week low of $36.77 and a fifty-two week high of $56.91. The firm has a market cap of $3.78 billion, a P/E ratio of 9.39, a P/E/G ratio of 0.80 and a beta of 1.63. The business has a 50-day moving average price of $50.37 and a 200 day moving average price of $46.32.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. The firm had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 earnings per share. As a group, equities research analysts anticipate that Travel + Leisure Co. will post 5.75 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Friday, December 13th. Travel + Leisure’s dividend payout ratio is presently 33.96%.

Insider Buying and Selling

In other Travel + Leisure news, Director Stephen P. Holmes sold 80,000 shares of Travel + Leisure stock in a transaction on Friday, October 25th. The stock was sold at an average price of $47.55, for a total transaction of $3,804,000.00. Following the sale, the director now owns 362,947 shares of the company’s stock, valued at $17,258,129.85. The trade was a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geoffrey Richards sold 9,400 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.56, for a total value of $531,664.00. Following the transaction, the insider now owns 111,202 shares of the company’s stock, valued at $6,289,585.12. This trade represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,455 shares of company stock valued at $5,075,834 in the last quarter. Company 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.