Pictet Asset Management Holding SA Buys 1,638 Shares of Travel + Leisure Co. (NYSE:TNL)

Pictet Asset Management Holding SA grew its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 19.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,271 shares of the company’s stock after acquiring an additional 1,638 shares during the period. Pictet Asset Management Holding SA’s holdings in Travel + Leisure were worth $518,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TNL. FMR LLC lifted its holdings in shares of Travel + Leisure by 28.5% in the 3rd quarter. FMR LLC now owns 261,599 shares of the company’s stock worth $12,054,000 after buying an additional 58,008 shares during the period. Captrust Financial Advisors purchased a new stake in Travel + Leisure in the third quarter worth about $224,000. Janus Henderson Group PLC grew its holdings in Travel + Leisure by 18.8% during the 3rd quarter. Janus Henderson Group PLC now owns 34,730 shares of the company’s stock worth $1,600,000 after acquiring an additional 5,503 shares in the last quarter. Quantinno Capital Management LP increased its position in Travel + Leisure by 4.5% during the 3rd quarter. Quantinno Capital Management LP now owns 36,110 shares of the company’s stock valued at $1,664,000 after purchasing an additional 1,571 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Travel + Leisure by 8.8% in the 3rd quarter. Stifel Financial Corp now owns 109,589 shares of the company’s stock valued at $5,050,000 after purchasing an additional 8,819 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Analyst Upgrades and Downgrades

TNL has been the topic of several research reports. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $60.00 in a report on Monday, January 27th. Morgan Stanley initiated coverage on Travel + Leisure in a research report on Monday, January 6th. They issued an “overweight” rating and a $67.00 price target for the company. Mizuho restated a “neutral” rating and set a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Tigress Financial lifted their target price on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Truist Financial increased their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.70.

Travel + Leisure Trading Down 2.5 %

NYSE TNL opened at $38.72 on Wednesday. The stock has a market cap of $2.58 billion, a P/E ratio of 6.63, a P/E/G ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $58.95. The company has a fifty day simple moving average of $51.24 and a two-hundred day simple moving average of $50.92.

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

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio is 38.36%.

Insiders Place Their Bets

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the transaction, the director now owns 2,759 shares in the company, valued at approximately $129,121.20. This trade represents a 69.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Dean Brown bought 2,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the purchase, the insider now directly owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.02% of the stock is currently owned by insiders.

Travel + Leisure Company Profile

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.