654,890 Shares in Travel + Leisure Co. $TNL Bought by Truist Financial Corp

Truist Financial Corp bought a new position in shares of Travel + Leisure Co. (NYSE:TNL) in the third quarter, HoldingsChannel.com reports. The firm bought 654,890 shares of the company’s stock, valued at approximately $38,959,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TNL. Compass Wealth Management LLC acquired a new stake in shares of Travel + Leisure in the third quarter worth $1,707,000. Farther Finance Advisors LLC grew its position in Travel + Leisure by 2,704.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,963 shares of the company’s stock worth $101,000 after purchasing an additional 1,893 shares during the last quarter. Advisors Capital Management LLC grew its position in Travel + Leisure by 1.1% in the 2nd quarter. Advisors Capital Management LLC now owns 399,794 shares of the company’s stock worth $20,633,000 after purchasing an additional 4,242 shares during the last quarter. Ethic Inc. increased its holdings in shares of Travel + Leisure by 132.0% during the 3rd quarter. Ethic Inc. now owns 27,108 shares of the company’s stock worth $1,613,000 after purchasing an additional 15,422 shares during the period. Finally, Savant Capital LLC raised its position in shares of Travel + Leisure by 54.1% during the second quarter. Savant Capital LLC now owns 56,934 shares of the company’s stock valued at $2,938,000 after buying an additional 19,997 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Trading Up 0.9%

NYSE:TNL opened at $70.22 on Friday. The stock has a market capitalization of $4.52 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.62 and a beta of 1.38. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $76.21. The firm has a 50 day moving average of $70.90 and a 200-day moving average of $64.63.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.2%. Travel + Leisure’s payout ratio is currently 36.84%.

Insider Buying and Selling at Travel + Leisure

In other news, insider Geoffrey Richards sold 62,525 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $65.17, for a total transaction of $4,074,754.25. Following the sale, the insider owned 39,604 shares in the company, valued at approximately $2,580,992.68. This represents a 61.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 559 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $68.18, for a total value of $38,112.62. The SEC filing for this sale provides additional information. Insiders have sold 72,632 shares of company stock worth $4,733,487 in the last 90 days. Company insiders own 3.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TNL. Wells Fargo & Company began coverage on Travel + Leisure in a research report on Tuesday, November 18th. They set an “overweight” rating and a $74.00 target price on the stock. The Goldman Sachs Group raised their target price on Travel + Leisure from $61.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Morgan Stanley boosted their price target on shares of Travel + Leisure from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Travel + Leisure in a research report on Wednesday, January 21st. Finally, JMP Securities increased their price target on shares of Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.25.

About Travel + Leisure

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.