Norges Bank Makes New Investment in Travel + Leisure Co. (NYSE:TNL)

Norges Bank acquired a new stake in Travel + Leisure Co. (NYSE:TNL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 907,901 shares of the company’s stock, valued at approximately $45,804,000. Norges Bank owned 1.33% of Travel + Leisure at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new position in Travel + Leisure in the 4th quarter valued at about $25,000. Versant Capital Management Inc grew its position in shares of Travel + Leisure by 49.2% in the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after purchasing an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Travel + Leisure by 314.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock worth $33,000 after purchasing an additional 503 shares during the period. UMB Bank n.a. lifted its holdings in Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock valued at $39,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Price Performance

Shares of TNL opened at $40.96 on Friday. The firm has a 50 day simple moving average of $52.17 and a two-hundred day simple moving average of $50.96. Travel + Leisure Co. has a one year low of $39.80 and a one year high of $58.95. The company has a market cap of $2.73 billion, a P/E ratio of 7.01, 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, topping the consensus estimate of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The business had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. During the same period in the prior year, the company earned $1.98 EPS. Travel + Leisure’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently declared 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 was Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 5.47%. Travel + Leisure’s payout ratio is 38.36%.

Insider Buying and Selling

In other news, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Herrera sold 6,336 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their position. The disclosure for this sale can be found here. 4.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TNL shares. Morgan Stanley started coverage on Travel + Leisure in a report on Monday, January 6th. They set an “overweight” rating and a $67.00 target price for the company. Truist Financial lifted their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their target price on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price target for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Finally, Tigress Financial increased their price target on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

Travel + Leisure 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.