MetLife Investment Management LLC Sells 1,468 Shares of Travel + Leisure Co. (NYSE:TNL)

MetLife Investment Management LLC trimmed its holdings in Travel + Leisure Co. (NYSE:TNL) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,007 shares of the company’s stock after selling 1,468 shares during the period. MetLife Investment Management LLC’s holdings in Travel + Leisure were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in Travel + Leisure by 1,948.1% in 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 lifted its holdings 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 valued at $28,000 after purchasing an additional 607 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Travel + Leisure during the second quarter valued at approximately $31,000. Larson Financial Group LLC purchased a new position in shares of Travel + Leisure during the second quarter valued at approximately $36,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Travel + Leisure during the second quarter worth $38,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $55.43 on Friday. The business’s fifty day moving average price is $50.00 and its 200-day moving average price is $46.17. Travel + Leisure Co. has a one year low of $36.47 and a one year high of $56.91. The stock has a market capitalization of $3.79 billion, a PE ratio of 9.41, a P/E/G ratio of 0.80 and a beta of 1.63.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The firm had revenue of $993.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $1.54 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts expect that Travel + Leisure Co. will post 5.75 EPS for the current fiscal 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 dividend of $0.50 per share. The ex-dividend date is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.61%. Travel + Leisure’s dividend payout ratio is currently 33.96%.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Geoffrey Richards sold 9,400 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.56, for a total value of $531,664.00. Following the completion of the transaction, the insider now owns 111,202 shares in the company, valued at $6,289,585.12. This trade represents a 7.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen P. Holmes sold 80,000 shares of Travel + Leisure 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 of the company’s stock, valued at $17,258,129.85. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,455 shares of company stock valued at $5,075,834 over the last three months. Company insiders own 4.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TNL shares. Stifel Nicolaus raised their price objective on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial raised their price target 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 upped their price objective on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Tigress Financial lifted their target price on shares of Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.80.

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.