Wright Investors Service Inc. Sells 4,403 Shares of Travel + Leisure Co. (NYSE:TNL)

Wright Investors Service Inc. lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 14.0% in the fourth quarter, Holdings Channel reports. The firm owned 27,119 shares of the company’s stock after selling 4,403 shares during the period. Wright Investors Service Inc.’s holdings in Travel + Leisure were worth $1,060,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in Travel + Leisure by 147.5% during the fourth quarter. Allworth Financial LP now owns 698 shares of the company’s stock worth $27,000 after purchasing an additional 416 shares during the period. Penserra Capital Management LLC bought a new stake in Travel + Leisure during the first quarter worth approximately $31,000. Lazard Asset Management LLC acquired a new position in shares of Travel + Leisure during the first quarter worth approximately $34,000. Arlington Trust Co LLC acquired a new position in shares of Travel + Leisure during the fourth quarter worth approximately $53,000. Finally, Perkins Coie Trust Co acquired a new position in shares of Travel + Leisure during the third quarter worth approximately $55,000. Institutional investors own 87.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho assumed coverage on Travel + Leisure in a report on Tuesday, March 26th. They set a “neutral” rating and a $55.00 price target for the company. Barclays upped their price target on Travel + Leisure from $37.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Jefferies Financial Group upgraded Travel + Leisure from a “hold” rating to a “buy” rating and upped their price target for the stock from $37.00 to $57.00 in a report on Tuesday, January 2nd. Truist Financial upped their target price on Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, JMP Securities initiated coverage on Travel + Leisure in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $50.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.29.

Insiders Place Their Bets

In other Travel + Leisure news, insider Kimberly Marshall sold 4,953 shares of the stock in a transaction on Sunday, March 10th. The stock was sold at an average price of $45.24, for a total transaction of $224,073.72. Following the completion of the transaction, the insider now directly owns 54,657 shares in the company, valued at $2,472,682.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider James J. Savina sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total value of $677,700.00. Following the transaction, the insider now owns 15,860 shares in the company, valued at $716,554.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kimberly Marshall sold 4,953 shares of the firm’s stock in a transaction dated Sunday, March 10th. The shares were sold at an average price of $45.24, for a total value of $224,073.72. Following the completion of the transaction, the insider now owns 54,657 shares in the company, valued at approximately $2,472,682.68. The disclosure for this sale can be found here. Insiders sold 28,922 shares of company stock worth $1,318,358 over the last three months. 4.02% of the stock is currently owned by corporate insiders.

Travel + Leisure Price Performance

Shares of NYSE TNL traded up $0.28 during trading hours on Thursday, reaching $43.85. The stock had a trading volume of 85,853 shares, compared to its average volume of 531,940. The business’s fifty day moving average is $45.05 and its two-hundred day moving average is $40.09. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.19 and a beta of 1.63. Travel + Leisure Co. has a twelve month low of $32.10 and a twelve month high of $49.02.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.61. Travel + Leisure had a negative return on equity of 43.77% and a net margin of 10.59%. The firm had revenue of $935.00 million during the quarter, compared to analyst estimates of $946.56 million. During the same period in the prior year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that Travel + Leisure Co. will post 5.4 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $0.50 per share. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 4.56%. The ex-dividend date was Wednesday, March 20th. Travel + Leisure’s dividend payout ratio is currently 37.59%.

About Travel + Leisure

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.