Allianz Asset Management GmbH Cuts Stake in Travel + Leisure Co. $TNL

Allianz Asset Management GmbH lessened its position in shares of Travel + Leisure Co. (NYSE:TNL) by 58.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 52,424 shares of the company’s stock after selling 72,539 shares during the period. Allianz Asset Management GmbH’s holdings in Travel + Leisure were worth $2,706,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TNL. Nuveen LLC acquired a new position in Travel + Leisure during the 1st quarter worth approximately $41,114,000. AQR Capital Management LLC grew its holdings in Travel + Leisure by 28.3% during the 1st quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company’s stock worth $83,241,000 after acquiring an additional 403,418 shares in the last quarter. LSV Asset Management grew its holdings in Travel + Leisure by 37.7% during the 1st quarter. LSV Asset Management now owns 956,109 shares of the company’s stock worth $44,258,000 after acquiring an additional 261,528 shares in the last quarter. Millennium Management LLC grew its holdings in Travel + Leisure by 129.5% during the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock worth $19,141,000 after acquiring an additional 233,345 shares in the last quarter. Finally, Ranmore Fund Management Ltd grew its holdings in Travel + Leisure by 621.1% during the 1st quarter. Ranmore Fund Management Ltd now owns 255,000 shares of the company’s stock worth $11,804,000 after acquiring an additional 219,637 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 2,200 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total transaction of $133,056.00. Following the completion of the sale, the director owned 559 shares in the company, valued at $33,808.32. This represents a 79.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kimberly Marshall sold 16,500 shares of the stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $65.00, for a total transaction of $1,072,500.00. Following the sale, the insider owned 40,236 shares of the company’s stock, valued at approximately $2,615,340. This represents a 29.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,104 shares of company stock worth $1,296,114 in the last quarter. 3.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen cut shares of Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Citigroup reaffirmed an “outperform” rating on shares of Travel + Leisure in a research report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Travel + Leisure in a research report on Friday. Barclays increased their target price on shares of Travel + Leisure from $54.00 to $63.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Morgan Stanley set a $68.00 target price on shares of Travel + Leisure in a research report on Wednesday. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.90.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $65.21 on Friday. The stock has a market cap of $4.19 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.63 and a beta of 1.47. The firm has a fifty day moving average price of $61.47 and a 200 day moving average price of $54.79. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $70.43.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.08. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. Travel + Leisure’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.57 EPS. Sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were paid a dividend of $0.56 per share. The ex-dividend date was Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.4%. Travel + Leisure’s dividend payout ratio is currently 38.62%.

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.