Travel + Leisure Co. (NYSE:TNL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,384 shares of the company’s stock after selling 5,093 shares during the period. Corebridge Financial Inc. owned 0.11% of Travel + Leisure worth $3,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in Travel + Leisure by 30.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. raised its position in shares of Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after buying an additional 204 shares during the period. Versant Capital Management Inc raised its position in shares of Travel + Leisure by 49.2% during the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after buying an additional 210 shares during the period. Hourglass Capital LLC lifted its holdings in Travel + Leisure by 0.6% in the fourth quarter. Hourglass Capital LLC now owns 36,230 shares of the company’s stock valued at $1,828,000 after acquiring an additional 230 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Travel + Leisure by 2.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,944 shares of the company’s stock worth $451,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, insider Michael Dean Brown acquired 2,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. The trade was a 0.49 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George Herrera sold 6,336 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the sale, the director now owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.02% of the company’s stock.

Travel + Leisure Trading Down 1.8 %

Travel + Leisure stock opened at $46.40 on Monday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 7.95, a P/E/G ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a twelve month low of $39.91 and a twelve month high of $58.95. The stock’s fifty day simple moving average is $52.99 and its 200-day simple moving average is $50.99.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.04. The company had revenue of $971.00 million for the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 EPS. Sell-side analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.83%. The ex-dividend date is Monday, March 17th. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s payout ratio is 38.36%.

Analysts Set New Price Targets

TNL has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley initiated coverage on shares of Travel + Leisure in a research report on Monday, January 6th. They issued an “overweight” rating and a $67.00 target price on the stock. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price target for the company from $40.00 to $60.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Mizuho reiterated a “neutral” rating and issued a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.70.

About Travel + Leisure

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.