American International Group Inc. reduced its holdings in Travel & Leisure Inc. (NYSE:TNL – Free Report ) by 2.0% during the first quarter, according to the latest filing with the Securities and Exchange Commission. The institutional investor sold 1,968 shares during the quarter and now owns 96,116 shares of the company’s stock. American International Group Inc. held approximately 0.13% of Travel & Leisure Inc. shares, worth $4,706,000, at the end of the most recent reporting period.
A number of other hedge funds and institutional investors also modified their holdings of the stock. Seven Eight Capital increased its holdings in Travel & Leisure by 20.6% during the first quarter. Seven Eight Capital now owns 21,029 shares of the company, valued at $1.03 million. It purchased an additional 3,586 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Travel & Leisure in the first quarter, valued at approximately $4.739 million. Florida Retirement System Administration increased its holdings in Travel & Leisure by 11.2% during the first quarter. Florida Retirement System Administration now owns 117,640 shares of the company, valued at $5.76 million, after acquiring an additional 11,847 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding SA increased its holdings in Travel + Leisure by 3.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA acquired an additional 2,512 shares during the period and now holds 67,114 shares, valued at $3,286,000. Finally, Russell Investments Group Ltd. increased its holdings in Travel + Leisure by 30.1% during the first quarter. Russell Investments Group Ltd. acquired an additional 81,817 shares during the period and now holds 353,633 shares, valued at $17,313,000. 87.54% of the stock is now owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently issued reports on TNL shares. Barclays increased their price target on Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. JPMorgan Chase raised their price target on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Deutsche Bank lowered their price target on Travel + Leisure from $65.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating. According to data from MarketBeat.com, the company currently has an average rating of a “moderate buy” with an average price target of $56.75.
Check out the latest Travel + Leisure stock report
Travel + Leisure trade up 1.3%
TNL shares opened trading at $45.86 on Friday. The company’s 50-day moving average price is $44.89 and its 200-day moving average price is $44.26. The company has a market cap of $3.2 billion, a P/E ratio of 8.45, a P/G ratio of 2.56 and a beta of 1.63. Travel + Leisure Co.’s low over the past year is $32.10 and its high over the past year is $49.91.
Travel + Leisure (NYSE:TNL – get free report ) last released its quarterly earnings data on Wednesday, July 24th. The company reported quarterly EPS of $1.52, beating analysts’ consensus estimates of $1.39 by $0.13. Travel + Leisure’s ROE was negative 46.63%, with a net margin of 11.35%. The company’s quarterly revenue was $985 million, beating analysts’ estimates of $987.2 million. During the same period last year, the company posted EPS of $1.33. The company’s quarterly revenue grew 3.8% year over year. Research analysts on average expect Travel + Leisure to post earnings of $5.61 per share this year.
Travel + Leisure announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date for this dividend was Friday, June 14th. This equates to a $2.00 dividend on an annualized basis, or a yield of 4.36%. Travel + Leisure’s dividend payout ratio is currently 36.83%.
Travel + Leisure Company Profile
(Free report)
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates through two segments: Vacation Ownership and Travel & Memberships. The Vacation Ownership segment develops, markets and sells vacation ownership interests (VOIs) to private consumers, as well as providing consumer financing in connection with the sale of VOIs and property management services at resorts.
References
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