Travel + Leisure Co. $TNL Stake Lessened by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 51.5% in the second quarter, HoldingsChannel reports. The fund owned 35,935 shares of the company’s stock after selling 38,098 shares during the quarter. Prudential Financial Inc.’s holdings in Travel + Leisure were worth $1,855,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers increased its stake in shares of Travel + Leisure by 3.0% in the first quarter. Cetera Investment Advisers now owns 10,789 shares of the company’s stock worth $499,000 after acquiring an additional 317 shares during the last quarter. LPL Financial LLC grew its stake in Travel + Leisure by 39.6% in the first quarter. LPL Financial LLC now owns 53,010 shares of the company’s stock valued at $2,454,000 after purchasing an additional 15,027 shares in the last quarter. Natixis Advisors LLC increased its position in Travel + Leisure by 20.3% in the 1st quarter. Natixis Advisors LLC now owns 15,195 shares of the company’s stock worth $703,000 after purchasing an additional 2,569 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Travel + Leisure in the 1st quarter worth about $262,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Travel + Leisure by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock worth $46,039,000 after purchasing an additional 79,430 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jeffrey Myers sold 50,000 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $66.38, for a total value of $3,319,000.00. Following the completion of the sale, the insider directly owned 63,789 shares of the company’s stock, valued at approximately $4,234,313.82. This represents a 43.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amandine Robin-Caplan sold 1,538 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $65.08, for a total transaction of $100,093.04. Following the transaction, the insider owned 3,904 shares in the company, valued at approximately $254,072.32. The trade was a 28.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 198,776 shares of company stock worth $13,080,628. Corporate insiders own 3.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup reissued an “outperform” rating on shares of Travel + Leisure in a research note on Thursday, October 23rd. Wall Street Zen downgraded shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Mizuho set a $86.00 price target on shares of Travel + Leisure in a research note on Wednesday, October 22nd. Wells Fargo & Company assumed coverage on shares of Travel + Leisure in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $74.00 price objective for the company. Finally, JMP Securities upped their price objective on shares of Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.60.

Travel + Leisure Trading Up 0.4%

Shares of Travel + Leisure stock opened at $68.54 on Friday. The firm has a fifty day simple moving average of $63.45 and a 200-day simple moving average of $58.99. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.60 and a beta of 1.39. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $70.43.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.72 by $0.08. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 EPS. As a group, research analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, December 12th. Travel + Leisure’s payout ratio is currently 36.84%.

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.