Retirement Systems of Alabama Decreases Position in Travel + Leisure Co. $TNL

Retirement Systems of Alabama decreased its position in Travel + Leisure Co. (NYSE:TNL) by 6.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 254,495 shares of the company’s stock after selling 17,778 shares during the period. Retirement Systems of Alabama owned about 0.40% of Travel + Leisure worth $15,140,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TNL. AQR Capital Management LLC grew its stake in Travel + Leisure by 46.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after acquiring an additional 855,151 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Travel + Leisure by 69.0% in the second quarter. LSV Asset Management now owns 1,615,402 shares of the company’s stock valued at $83,371,000 after purchasing an additional 659,293 shares in the last quarter. Norges Bank acquired a new stake in shares of Travel + Leisure in the second quarter valued at approximately $50,934,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Travel + Leisure by 6.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 687,960 shares of the company’s stock worth $35,506,000 after purchasing an additional 42,934 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Travel + Leisure by 98.4% during the 2nd quarter. Quantinno Capital Management LP now owns 488,307 shares of the company’s stock worth $25,202,000 after purchasing an additional 242,231 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Stock Down 1.3%

NYSE:TNL opened at $69.20 on Wednesday. The company has a market cap of $4.45 billion, a P/E ratio of 11.38, a P/E/G ratio of 0.62 and a beta of 1.38. The firm’s 50 day moving average is $70.58 and its two-hundred day moving average is $64.56. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $76.21.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, December 12th. Travel + Leisure’s payout ratio is 36.84%.

Insider Transactions at Travel + Leisure

In other news, insider Geoffrey Richards sold 62,525 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $65.17, for a total transaction of $4,074,754.25. Following the completion of the sale, the insider owned 39,604 shares in the company, valued at approximately $2,580,992.68. The trade was a 61.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 559 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $68.18, for a total transaction of $38,112.62. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 72,632 shares of company stock valued at $4,733,487. 3.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TNL. Mizuho set a $86.00 target price on Travel + Leisure in a report on Wednesday, October 22nd. The Goldman Sachs Group upped their price objective on Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Morgan Stanley lifted their price objective on Travel + Leisure from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Travel + Leisure in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company started coverage on shares of Travel + Leisure in a research note on Tuesday, November 18th. They set an “overweight” rating and a $74.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.25.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.