Retirement Systems of Alabama Cuts Stock Position in Travel + Leisure Co. $TNL

Retirement Systems of Alabama decreased its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,495 shares of the company’s stock after selling 17,778 shares during the quarter. Retirement Systems of Alabama’s holdings in Travel + Leisure were worth $15,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its position in shares of Travel + Leisure by 2,704.3% in the second quarter. Farther Finance Advisors LLC now owns 1,963 shares of the company’s stock worth $101,000 after buying an additional 1,893 shares during the period. Advisors Capital Management LLC boosted its holdings 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 acquiring an additional 4,242 shares during the period. Ethic Inc. grew its position in Travel + Leisure by 132.0% in the third quarter. Ethic Inc. now owns 27,108 shares of the company’s stock valued at $1,613,000 after acquiring an additional 15,422 shares in the last quarter. Savant Capital LLC raised its stake 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 purchasing an additional 19,997 shares during the period. Finally, Inscription Capital LLC raised its stake in shares of Travel + Leisure by 150.9% during the third quarter. Inscription Capital LLC now owns 19,623 shares of the company’s stock valued at $1,167,000 after purchasing an additional 11,802 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on TNL. Weiss Ratings restated a “buy (b)” rating on shares of Travel + Leisure in a research note on Wednesday, January 21st. JMP Securities boosted 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. The Goldman Sachs Group raised their target price on Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Wells Fargo & Company assumed 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. Finally, Mizuho set a $86.00 price target on Travel + Leisure in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $75.25.

Insider Transactions at Travel + Leisure

In related news, insider Geoffrey Richards sold 62,525 shares of the stock in a transaction dated Monday, November 24th. The shares were 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 $2,580,992.68. This represents a 61.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Herrera sold 559 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $68.18, for a total transaction of $38,112.62. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 72,632 shares of company stock worth $4,733,487. Insiders own 3.75% of the company’s stock.

Travel + Leisure Trading Down 1.3%

Shares of NYSE TNL opened at $69.20 on Wednesday. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 0.62 and a beta of 1.38. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $76.21. The business has a 50 day simple moving average of $70.58 and a 200-day simple moving average of $64.56.

Travel + Leisure Dividend Announcement

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

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.