Alliancebernstein L.P. Cuts Stock Position in Travel + Leisure Co. (NYSE:TNL)

Alliancebernstein L.P. reduced its position in Travel + Leisure Co. (NYSE:TNL) by 5.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 151,081 shares of the company’s stock after selling 8,882 shares during the quarter. Alliancebernstein L.P. owned about 0.22% of Travel + Leisure worth $7,622,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of Travel + Leisure 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 sale, the director now owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Dean Brown acquired 2,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. This trade represents 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.

Analyst Upgrades and Downgrades

A number of research firms have commented on TNL. JPMorgan Chase & Co. raised their target price on Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Tigress Financial boosted their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Mizuho reaffirmed a “neutral” rating and issued a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Barclays boosted their price target on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley assumed coverage on Travel + Leisure in a research note on Monday, January 6th. They issued an “overweight” rating and a $67.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Travel + Leisure Stock Up 0.4 %

NYSE TNL opened at $41.37 on Friday. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $58.95. The business has a fifty day moving average of $50.26 and a 200-day moving average of $50.80. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40.

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

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.56 per share. The ex-dividend date was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a yield of 5.41%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio (DPR) is 38.36%.

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.