Norges Bank Acquires New Stake in Travel + Leisure Co. (NYSE:TNL)

Norges Bank bought a new position in shares of Travel + Leisure Co. (NYSE:TNL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 907,901 shares of the company’s stock, valued at approximately $45,804,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Cerity Partners LLC acquired a new position in shares of Travel + Leisure in the third quarter worth approximately $892,000. FMR LLC raised its holdings in Travel + Leisure by 28.5% during the 3rd quarter. FMR LLC now owns 261,599 shares of the company’s stock worth $12,054,000 after purchasing an additional 58,008 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Travel + Leisure in the 3rd quarter worth approximately $224,000. Verition Fund Management LLC boosted its stake in shares of Travel + Leisure by 207.6% in the 3rd quarter. Verition Fund Management LLC now owns 38,250 shares of the company’s stock valued at $1,763,000 after purchasing an additional 25,815 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Travel + Leisure by 18.8% during the third quarter. Janus Henderson Group PLC now owns 34,730 shares of the company’s stock worth $1,600,000 after buying an additional 5,503 shares during the period. Institutional investors own 87.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TNL shares. Tigress Financial boosted their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Mizuho reissued a “neutral” rating and issued a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. The Goldman Sachs Group raised their target price on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial boosted their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Insider Activity

In related news, Director George Herrera sold 6,336 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the purchase, the insider now directly owns 408,706 shares in the company, valued at approximately $19,070,221.96. This 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 company insiders.

Travel + Leisure Trading Down 4.4 %

Travel + Leisure stock opened at $40.96 on Friday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a 12 month low of $39.80 and a 12 month high of $58.95. The business’s 50 day simple moving average is $52.17 and its 200 day simple moving average is $50.96.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $971.00 million during the quarter, compared to analyst estimates of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $1.98 earnings per share. As a group, equities research analysts forecast 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. Stockholders of record on Monday, March 17th were issued a $0.56 dividend. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure’s dividend payout ratio (DPR) is presently 38.36%.

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.