Insider Selling: Travel + Leisure (NYSE:TNL) Director Sells 1,748 Shares of Stock

Travel + Leisure Co. (NYSE:TNL) Director George Herrera sold 1,748 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $70.31, for a total transaction of $122,901.88. Following the transaction, the director directly owned 1,853 shares in the company, valued at approximately $130,284.43. The trade was a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

George Herrera also recently made the following trade(s):

• On Tuesday, March 17th, George Herrera sold 1,214 shares of Travel + Leisure stock. The stock was sold at an average price of $70.48, for a total transaction of $85,562.72.

Travel + Leisure Stock Performance

Shares of TNL traded down $0.33 during mid-day trading on Wednesday, hitting $70.13. 587,439 shares of the company were exchanged, compared to its average volume of 691,039. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 0.53 and a beta of 1.32. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $81.00. The company has a 50 day moving average of $72.45 and a 200-day moving average of $67.66.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. Travel + Leisure had a negative return on equity of 47.77% and a net margin of 5.74%.The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm posted $1.72 EPS. Travel + Leisure’s revenue was up 5.7% compared to the same quarter last year. Research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 20th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $2.40 annualized dividend and a yield of 3.4%. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.56. Travel + Leisure’s dividend payout ratio is currently 65.69%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TNL. Oppenheimer reaffirmed an “outperform” rating and set a $85.00 target price on shares of Travel + Leisure in a research note on Wednesday, February 18th. The Goldman Sachs Group raised their price target on shares of Travel + Leisure from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Barclays set a $78.00 price target on shares of Travel + Leisure in a research report on Thursday, February 19th. Morgan Stanley increased their price objective on shares of Travel + Leisure from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, Wells Fargo & Company raised their target price on shares of Travel + Leisure from $81.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.90.

Hedge Funds Weigh In On Travel + Leisure

A number of institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in Travel + Leisure by 231.1% in the third quarter. Envestnet Asset Management Inc. now owns 691,599 shares of the company’s stock worth $41,143,000 after acquiring an additional 482,731 shares during the period. Compass Wealth Management LLC acquired a new position in shares of Travel + Leisure in the 3rd quarter valued at $1,707,000. ING Groep NV grew its holdings in shares of Travel + Leisure by 115.0% during the 3rd quarter. ING Groep NV now owns 63,000 shares of the company’s stock worth $3,748,000 after purchasing an additional 33,700 shares during the period. JPMorgan Chase & Co. increased its position in shares of Travel + Leisure by 15.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 354,598 shares of the company’s stock worth $21,096,000 after purchasing an additional 47,170 shares during the last quarter. Finally, Ethic Inc. increased its position in shares of Travel + Leisure by 132.0% during the 3rd quarter. Ethic Inc. now owns 27,108 shares of the company’s stock worth $1,613,000 after purchasing an additional 15,422 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

About Travel + Leisure

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.