Travel + Leisure (NYSE:TNL) Insider Michael Dean Brown Sells 15,943 Shares of Stock

Travel + Leisure Co. (NYSE:TNL) insider Michael Brown sold 15,943 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $79.81, for a total transaction of $1,272,410.83. Following the transaction, the insider owned 487,303 shares in the company, valued at approximately $38,891,652.43. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Dean Brown also recently made the following trade(s):

• On Monday, November 9th, Michael Brown sold 4,033 shares of Travel + Leisure stock. The shares were sold at an average price of $79.02, for a total transaction of $318,687.66.

Travel + Leisure Stock Down 2.4%

Shares of NYSE:TNL opened at $78.15 on Friday. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 0.78 and a beta of 1.21. Travel + Leisure Co. has a 52 week low of $60.34 and a 52 week high of $81.00. The firm has a 50 day moving average of $67.01 and a 200 day moving average of $70.73.

Travel + Leisure (NYSE:TNL) last posted its earnings results on Tuesday, October 27th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.16. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 5.66%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. Travel + Leisure’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Travel + Leisure Co. will post 7.77 EPS for the current year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, December 11th. Travel + Leisure’s payout ratio is presently 64.52%.

Institutional Investors Weigh In On Travel + Leisure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Travel + Leisure during the 2nd quarter worth approximately $543,957,000. State Street Corp raised its holdings in shares of Travel + Leisure by 0.4% in the second quarter. State Street Corp now owns 2,157,772 shares of the company’s stock worth $164,919,000 after buying an additional 7,641 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Travel + Leisure by 21.7% in the first quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company’s stock worth $90,329,000 after buying an additional 232,711 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Travel + Leisure by 5.3% in the second quarter. Envestnet Asset Management Inc. now owns 802,110 shares of the company’s stock worth $61,305,000 after buying an additional 40,573 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Travel + Leisure during the second quarter worth $55,087,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TNL. Mizuho set a $108.00 price objective on Travel + Leisure in a research report on Wednesday, October 28th. Citigroup reiterated a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. Morgan Stanley reissued an “overweight” rating and set a $86.00 price target on shares of Travel + Leisure in a research report on Thursday, October 22nd. Stifel Nicolaus set a $91.00 price target on shares of Travel + Leisure in a research report on Tuesday, October 27th. Finally, Barclays lowered their price target on shares of Travel + Leisure from $77.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 28th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.25.

About Travel + Leisure

Travel + Leisure Co. is a leisure travel company focused on vacation ownership, vacation exchange and travel membership services. Its vacation ownership business develops, markets and manages resort-based vacation ownership interests and related products through brands including Club Wyndham, WorldMark and Margaritaville Vacation Club. The company also operates RCI, a vacation exchange network that enables members of affiliated vacation ownership programs to exchange their stays. Its travel and membership offerings include services designed to help members plan and book vacations.