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

Principal Financial Group Inc. trimmed its stake in Travel + Leisure Co. (NYSE:TNL – Get Rating) by 78.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 435,704 shares of the company’s stock after selling 1,545,289 shares during the quarter. Principal Financial Group Inc.’s holdings in Travel + Leisure were worth $15,860,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Penserra Capital Management LLC acquired a new position in shares of Travel + Leisure in the first quarter valued at approximately $31,000. Lazard Asset Management LLC purchased a new stake in shares of Travel + Leisure in the first quarter valued at $34,000. EWG Elevate Inc. acquired a new position in Travel + Leisure in the fourth quarter valued at $25,000. Belpointe Asset Management LLC acquired a new position in Travel + Leisure during the fourth quarter worth approximately $35,000. Finally, Bessemer Group Inc. raised its holdings in shares of Travel + Leisure by 29.3% in the 3rd quarter. Bessemer Group Inc. now owns 1,385 shares of the company’s stock worth $48,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity

In related news, Director George Herrera sold 2,069 shares of the stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $37.53, for a total value of $77,649.57. Following the transaction, the director now owns 5,838 shares in the company, valued at $219,100.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director George Herrera sold 2,069 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $37.53, for a total value of $77,649.57. Following the completion of the sale, the director now directly owns 5,838 shares in the company, valued at $219,100.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Olivier Chavy sold 7,900 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $38.02, for a total transaction of $300,358.00. Following the transaction, the insider now directly owns 4,511 shares in the company, valued at $171,508.22. The disclosure for this sale can be found here. Insiders sold a total of 12,619 shares of company stock worth $477,409 in the last three months. 2.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TNL shares. Jefferies Financial Group downgraded shares of Travel + Leisure from a “buy” rating to a “hold” rating and cut their target price for the company from $71.00 to $49.00 in a research note on Friday, February 3rd. Credit Suisse Group lifted their price objective on shares of Travel + Leisure from $31.00 to $36.00 and gave the stock an “underperform” rating in a report on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Travel + Leisure from $69.00 to $62.00 in a research report on Thursday, April 27th. Finally, Bank of America assumed coverage on shares of Travel + Leisure in a research note on Monday, April 17th. They set an “underperform” rating and a $42.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Travel + Leisure currently has an average rating of “Hold” and a consensus target price of $50.43.

Travel + Leisure Stock Up 1.8 %

Shares of NYSE TNL opened at $36.99 on Wednesday. The business has a fifty day simple moving average of $37.64 and a 200-day simple moving average of $38.83. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 8.28, a P/E/G ratio of 0.31 and a beta of 1.66. Travel + Leisure Co. has a 12 month low of $33.57 and a 12 month high of $52.46.

Travel + Leisure (NYSE:TNL – Get Rating) last released its earnings results on Wednesday, April 26th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $840.65 million. Travel + Leisure had a negative return on equity of 43.00% and a net margin of 10.17%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. As a group, sell-side analysts expect that Travel + Leisure Co. will post 5.54 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Wednesday, June 14th. Travel + Leisure’s dividend payout ratio (DPR) is presently 40.27%.

Travel + Leisure Company Profile

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Travel + Leisure Co is a membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. It operates through Vacation Ownership and Travel and Membership segments. The Vacation Ownership segment is involved in developing, marketing, and selling vacation ownership interests to individual consumers, providing consumer financing in connection with the sale of vacation ownership interests, and providing property management services at resorts.