Thrivent Financial for Lutherans Trims Stock Position in Travel + Leisure Co. (NYSE:TNL)

Thrivent Financial for Lutherans trimmed its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 22.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,673 shares of the company’s stock after selling 16,670 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Travel + Leisure worth $2,859,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TNL. Picton Mahoney Asset Management increased its position in Travel + Leisure by 31.6% during the fourth quarter. Picton Mahoney Asset Management now owns 10,721 shares of the company’s stock worth $541,000 after buying an additional 2,577 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Travel + Leisure by 31.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,906 shares of the company’s stock worth $298,000 after purchasing an additional 1,397 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Travel + Leisure by 2.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,944 shares of the company’s stock valued at $451,000 after purchasing an additional 236 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in Travel + Leisure by 31.5% in the 4th quarter. Great Lakes Advisors LLC now owns 313,768 shares of the company’s stock valued at $15,830,000 after purchasing an additional 75,075 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Travel + Leisure by 3.2% during the 4th quarter. HighTower Advisors LLC now owns 9,982 shares of the company’s stock worth $504,000 after purchasing an additional 314 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Stock Performance

TNL opened at $47.24 on Friday. Travel + Leisure Co. has a 1 year low of $39.91 and a 1 year high of $58.95. The firm has a 50 day moving average price of $53.10 and a 200 day moving average price of $50.83. The company has a market cap of $3.15 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61.

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Travel + Leisure (NYSE:TNL – Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business had revenue of $971.00 million for the quarter, compared to the consensus estimate of $958.87 million. During the same quarter last year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.56 dividend. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.24 annualized dividend and a dividend yield of 4.74%. Travel + Leisure’s dividend payout ratio is presently 38.36%.

Insider Activity at Travel + Leisure

In other news, insider Michael Dean Brown purchased 2,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $46.66 per share, with a total value of $93,320.00. Following the acquisition, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Herrera sold 6,336 shares of the business’s stock in a transaction on 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 $129,121.20. This represents a 69.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TNL shares. Barclays boosted their price objective on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Mizuho reissued a “neutral” rating and set a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Truist Financial lifted their price objective on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, March 7th. The Goldman Sachs Group increased their target price on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley assumed coverage on Travel + Leisure in a report on Monday, January 6th. They issued an “overweight” rating and a $67.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

Read Our Latest Report on Travel + Leisure

Travel + Leisure 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 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.