Raymond James Financial Inc. Takes $3.85 Million Position in Travel + Leisure Co. (NYSE:TNL)

Raymond James Financial Inc. bought a new stake in Travel + Leisure Co. (NYSE:TNL) during the fourth quarter, Holdings Channel.com reports. The fund bought 76,306 shares of the company’s stock, valued at approximately $3,850,000.

A number of other hedge funds have also recently added to or reduced their stakes in TNL. Aigen Investment Management LP raised its stake in Travel + Leisure by 27.8% during the 4th quarter. Aigen Investment Management LP now owns 14,636 shares of the company’s stock valued at $738,000 after acquiring an additional 3,183 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Travel + Leisure during the fourth quarter worth $1,570,000. Atria Investments Inc lifted its holdings in shares of Travel + Leisure by 25.1% in the fourth quarter. Atria Investments Inc now owns 6,689 shares of the company’s stock valued at $337,000 after purchasing an additional 1,344 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in Travel + Leisure by 13.7% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 11,684 shares of the company’s stock worth $589,000 after purchasing an additional 1,409 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Travel + Leisure by 15.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock valued at $46,169,000 after acquiring an additional 122,173 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the transaction, the director now directly owns 2,759 shares of the company’s stock, valued at $129,121.20. The trade was a 69.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the purchase, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.02% of the company’s stock.

Travel + Leisure Stock Down 1.0 %

Shares of TNL stock opened at $47.95 on Thursday. The stock has a 50-day simple moving average of $53.20 and a 200 day simple moving average of $50.85. Travel + Leisure Co. has a fifty-two week low of $39.91 and a fifty-two week high of $58.95. The stock has a market capitalization of $3.20 billion, a P/E ratio of 8.21, a P/E/G ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm had revenue of $971.00 million for the quarter, compared to analysts’ expectations of $958.87 million. During the same quarter last year, the business posted $1.98 EPS. Travel + Leisure’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.56 per share. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, March 17th. Travel + Leisure’s payout ratio is currently 38.36%.

Wall Street Analyst Weigh In

TNL has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. The Goldman Sachs Group raised their price objective on Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Tigress Financial lifted their price target on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on shares of Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Morgan Stanley assumed coverage on Travel + Leisure in a research report on Monday, January 6th. They issued an “overweight” rating and a $67.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.70.

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.