Insider Selling: Travel + Leisure (NYSE:TNL) Director Sells 1,748 Shares of Stock

Travel + Leisure Co. (NYSE:TNL) Director George Herrera sold 1,748 shares of Travel + Leisure stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $70.31, for a total transaction of $122,901.88. Following the sale, the director owned 1,853 shares of the company’s stock, valued at approximately $130,284.43. This represents a 48.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

George Herrera also recently made the following trade(s):

• On Tuesday, March 17th, George Herrera sold 1,214 shares of Travel + Leisure stock. The stock was sold at an average price of $70.48, for a total transaction of $85,562.72.

Travel + Leisure Price Performance

Shares of NYSE:TNL traded down $0.33 during mid-day trading on Wednesday, reaching $70.13. 587,439 shares of the company were exchanged, compared to its average volume of 691,039. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $81.00. The firm’s 50-day simple moving average is $72.45 and its 200 day simple moving average is $67.66. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 0.53 and a beta of 1.32.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, February 18th. The company reported $1.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.83. Travel + Leisure had a negative return on equity of 47.77% and a net margin of 5.74%.The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company earned $1.72 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 20th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, March 20th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.56. Travel + Leisure’s dividend payout ratio is currently 65.69%.

Analyst Upgrades and Downgrades

TNL has been the topic of a number of recent research reports. Citizens Jmp boosted their price target on shares of Travel + Leisure from $80.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 19th. Wells Fargo & Company lifted their price objective on shares of Travel + Leisure from $81.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. Morgan Stanley upped their target price on shares of Travel + Leisure from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. The Goldman Sachs Group increased their target price on shares of Travel + Leisure from $71.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $90.00 price target on shares of Travel + Leisure in a research note on Friday, February 20th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Institutional Trading of Travel + Leisure

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Travel + Leisure by 42.0% during the 1st quarter. Royal Bank of Canada now owns 91,184 shares of the company’s stock worth $4,222,000 after acquiring an additional 26,965 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Travel + Leisure in the 1st quarter valued at approximately $396,000. Millennium Management LLC raised its holdings in shares of Travel + Leisure by 129.5% in the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock valued at $19,141,000 after purchasing an additional 233,345 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Travel + Leisure by 97.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company’s stock worth $9,271,000 after purchasing an additional 98,647 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Travel + Leisure during the 1st quarter worth $206,000. Institutional investors and hedge funds own 87.54% of the company’s stock.

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.