Arrowstreet Capital Limited Partnership Raises Position in Travel + Leisure Co. (NYSE:TNL)

Arrowstreet Capital Limited Partnership raised its position in shares of Travel + Leisure Co. (NYSE:TNL) by 10.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 814,319 shares of the company’s stock after purchasing an additional 79,922 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Travel + Leisure were worth $41,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TNL. Barclays PLC grew its stake in shares of Travel + Leisure by 80.4% during the 3rd quarter. Barclays PLC now owns 225,326 shares of the company’s stock worth $10,383,000 after acquiring an additional 100,440 shares during the period. FMR LLC increased its stake in shares of Travel + Leisure by 28.5% in the third quarter. FMR LLC now owns 261,599 shares of the company’s stock worth $12,054,000 after purchasing an additional 58,008 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Travel + Leisure in the fourth quarter valued at approximately $1,288,000. Captrust Financial Advisors purchased a new stake in shares of Travel + Leisure during the 3rd quarter valued at approximately $224,000. Finally, Amundi boosted its holdings in Travel + Leisure by 22.8% in the 4th quarter. Amundi now owns 5,940 shares of the company’s stock worth $302,000 after buying an additional 1,103 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.

Travel + Leisure Stock Up 3.6 %

TNL opened at $48.07 on Thursday. The business’s fifty day simple moving average is $52.62 and its 200 day simple moving average is $51.02. Travel + Leisure Co. has a 52 week low of $39.91 and a 52 week high of $58.95. The stock has a market cap of $3.21 billion, a PE ratio of 8.23, a P/E/G ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The company had revenue of $971.00 million for the quarter, compared to analysts’ expectations of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $1.98 EPS. As a group, equities analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.24 annualized dividend and a dividend yield of 4.66%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio (DPR) is currently 38.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley initiated coverage on Travel + Leisure in a research report on Monday, January 6th. They set an “overweight” rating and a $67.00 target price on the stock. Tigress Financial lifted their target price on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Barclays upped their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and raised their price target for the company from $40.00 to $60.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Insider Buying and Selling

In related news, Director George Herrera sold 6,336 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the sale, the director now directly owns 2,759 shares in the company, valued at $129,121.20. This represents a 69.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Dean Brown purchased 2,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.02% of the stock is owned by corporate insiders.

Travel + Leisure Company Profile

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.