The Manufacturers Life Insurance Company Makes New Investment in Travel + Leisure Co. $TNL

The Manufacturers Life Insurance Company bought a new position in shares of Travel + Leisure Co. (NYSE:TNL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,439 shares of the company’s stock, valued at approximately $3,320,000.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of Travel + Leisure in the second quarter valued at approximately $477,000. Kendall Capital Management purchased a new position in Travel + Leisure in the second quarter worth $3,409,000. Commerce Bank purchased a new position in Travel + Leisure in the second quarter worth $1,524,000. Northwestern Mutual Wealth Management Co. purchased a new position in Travel + Leisure in the second quarter worth $243,000. Finally, Quantbot Technologies LP acquired a new stake in Travel + Leisure in the second quarter valued at $808,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the completion of the transaction, the chief accounting officer directly owned 5,307 shares in the company, valued at approximately $393,567.12. This trade represents a 79.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kimberly Marshall sold 32,691 shares of Travel + Leisure stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 115,135 shares of company stock valued at $8,505,899 in the last quarter. Insiders own 4.01% of the company’s stock.

Travel + Leisure Stock Performance

Shares of TNL stock opened at $65.97 on Wednesday. The stock has a fifty day moving average price of $74.53 and a 200 day moving average price of $72.07. The stock has a market cap of $4.04 billion, a PE ratio of 18.02, a P/E/G ratio of 0.47 and a beta of 1.16. Travel + Leisure Co. has a 1 year low of $58.07 and a 1 year high of $81.00.

Travel + Leisure (NYSE:TNL) last posted its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. Travel + Leisure’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Travel + Leisure Co. will post 7.7 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, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 16th. Travel + Leisure’s dividend payout ratio is presently 65.57%.

Analysts Set New Price Targets

TNL has been the topic of several research analyst reports. Zacks Research lowered shares of Travel + Leisure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Citigroup reiterated a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. Wells Fargo & Company raised their price objective on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group raised shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Monday, June 1st. Finally, Mizuho upped their target price on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Travel + Leisure 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.