JPMorgan Chase & Co. Acquires 47,170 Shares of Travel + Leisure Co. $TNL

JPMorgan Chase & Co. lifted its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,598 shares of the company’s stock after purchasing an additional 47,170 shares during the quarter. JPMorgan Chase & Co.’s holdings in Travel + Leisure were worth $21,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in shares of Travel + Leisure in the 2nd quarter valued at approximately $50,934,000. AQR Capital Management LLC lifted its holdings 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 worth $138,449,000 after purchasing an additional 855,151 shares during the last quarter. Truist Financial Corp bought a new stake in Travel + Leisure during the third quarter worth approximately $38,959,000. Jupiter Asset Management Ltd. boosted its position in Travel + Leisure by 13,198.4% during the third quarter. Jupiter Asset Management Ltd. now owns 521,031 shares of the company’s stock worth $30,996,000 after purchasing an additional 517,113 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Travel + Leisure by 231.1% during the third quarter. Envestnet Asset Management Inc. now owns 691,599 shares of the company’s stock valued at $41,143,000 after purchasing an additional 482,731 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Down 0.4%

Shares of NYSE TNL opened at $70.68 on Wednesday. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $81.00. The company has a market cap of $4.41 billion, a P/E ratio of 20.73, a P/E/G ratio of 0.54 and a beta of 1.32. The business’s 50 day moving average is $72.07 and its two-hundred day moving average is $67.90.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1 billion. Travel + Leisure had a negative return on equity of 47.77% and a net margin of 5.74%.Travel + Leisure’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.72 earnings per share. Sell-side 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 will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th will be issued a $0.60 dividend. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, March 20th. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. Travel + Leisure’s payout ratio is currently 70.38%.

Insiders Place Their Bets

In related news, insider Amandine Robin-Caplan sold 3,904 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $74.61, for a total value of $291,277.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Dean Brown sold 25,938 shares of Travel + Leisure stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $74.85, for a total value of $1,941,459.30. Following the sale, the insider directly owned 427,821 shares in the company, valued at approximately $32,022,401.85. This trade represents a 5.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 99,664 shares of company stock worth $7,390,847 in the last ninety days. Insiders own 3.75% of the company’s stock.

Analyst Ratings Changes

TNL has been the topic of a number of recent analyst reports. Barclays set a $78.00 price target on shares of Travel + Leisure in a research report on Thursday, February 19th. Mizuho set a $107.00 target price on shares of Travel + Leisure in a research note on Thursday, February 19th. Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a report on Thursday, February 19th. Oppenheimer reissued an “outperform” rating and set a $85.00 target price on shares of Travel + Leisure in a research report on Wednesday, February 18th. Finally, Weiss Ratings cut shares of Travel + Leisure from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.90.

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.