Travel + Leisure Co. (NYSE:TNL) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its stake in Travel + Leisure Co. (NYSE:TNL) by 71.5% in the 4th quarter, Holdings Channel reports. The firm owned 98,668 shares of the company’s stock after selling 247,251 shares during the quarter. Prudential Financial Inc.’s holdings in Travel + Leisure were worth $4,978,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TNL. Copeland Capital Management LLC lifted its position in shares of Travel + Leisure by 0.8% during the 4th quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company’s stock valued at $78,984,000 after acquiring an additional 12,111 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Travel + Leisure by 15.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock worth $46,169,000 after purchasing an additional 122,173 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Travel + Leisure by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 905,667 shares of the company’s stock valued at $45,691,000 after purchasing an additional 45,447 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of Travel + Leisure by 31.5% in the fourth quarter. Great Lakes Advisors LLC now owns 313,768 shares of the company’s stock valued at $15,830,000 after buying an additional 75,075 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Travel + Leisure by 28.5% during the 3rd quarter. FMR LLC now owns 261,599 shares of the company’s stock worth $12,054,000 after buying an additional 58,008 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Down 0.4 %

Shares of NYSE:TNL opened at $46.27 on Tuesday. The company has a market cap of $3.09 billion, a P/E ratio of 7.92, a P/E/G ratio of 0.67 and a beta of 1.61. The business has a fifty day simple moving average of $52.87 and a 200-day simple moving average of $51.02. Travel + Leisure Co. has a 52 week low of $39.91 and a 52 week high of $58.95.

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

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio (DPR) is 38.36%.

Insider Activity

In other news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Dean Brown bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $46.66 per share, with a total value of $93,320.00. Following the transaction, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. This represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TNL shares. Tigress Financial raised their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Barclays lifted their price objective on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Truist Financial increased their target price on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a report on Friday, March 7th. The Goldman Sachs Group boosted their price target on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley started coverage on Travel + Leisure in a research note on Monday, January 6th. They set an “overweight” rating and a $67.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

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.