SG Americas Securities LLC lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 8.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,236 shares of the company’s stock after selling 14,041 shares during the period. SG Americas Securities LLC’s holdings in Travel + Leisure were worth $10,464,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Travel + Leisure in the third quarter valued at $30,000. N.E.W. Advisory Services LLC bought a new stake in Travel + Leisure during the fourth quarter worth $43,000. Geneos Wealth Management Inc. lifted its stake in Travel + Leisure by 293.0% in the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after acquiring an additional 715 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Travel + Leisure by 27.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company’s stock valued at $88,000 after acquiring an additional 265 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Travel + Leisure by 17.8% in the 4th quarter. Signaturefd LLC now owns 1,276 shares of the company’s stock valued at $90,000 after acquiring an additional 193 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.
Travel + Leisure Trading Up 2.4%
Shares of NYSE TNL opened at $78.05 on Friday. The firm has a market cap of $4.87 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 0.58 and a beta of 1.17. Travel + Leisure Co. has a 1-year low of $50.92 and a 1-year high of $81.00. The business’s 50 day moving average is $69.45 and its 200-day moving average is $71.21.
Travel + Leisure Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, June 12th. Travel + Leisure’s payout ratio is presently 67.42%.
Insider Buying and Selling
In related news, Director Denny Marie Post sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $63.83, for a total transaction of $159,575.00. Following the transaction, the director directly owned 1,977 shares of the company’s stock, valued at approximately $126,191.91. This trade represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the sale, the director owned 1,353 shares of the company’s stock, valued at $101,691.48. This trade represents a 26.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,074 shares of company stock valued at $3,907,122 in the last 90 days. 4.01% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on TNL. Barclays cut their target price on shares of Travel + Leisure from $78.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company cut their price objective on Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Wall Street Zen downgraded Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings upgraded Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Finally, Mizuho reduced their price objective on shares of Travel + Leisure from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and an average price target of $85.40.
Check Out Our Latest Analysis on TNL
Travel + Leisure Company Profile
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.
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