QRG Capital Management Inc. Grows Stake in Travel + Leisure Co. (NYSE:TNL)

QRG Capital Management Inc. boosted its position in shares of Travel + Leisure Co. (NYSE:TNL) by 12.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,257 shares of the company’s stock after purchasing an additional 2,408 shares during the quarter. QRG Capital Management Inc.’s holdings in Travel + Leisure were worth $1,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in Travel + Leisure by 3.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 49,397 shares of the company’s stock worth $2,287,000 after purchasing an additional 1,672 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Travel + Leisure in the 1st quarter valued at $724,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Travel + Leisure by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,018 shares of the company’s stock valued at $1,945,000 after acquiring an additional 2,063 shares during the period. Fifth Third Bancorp increased its holdings in shares of Travel + Leisure by 61.5% in the 1st quarter. Fifth Third Bancorp now owns 1,873 shares of the company’s stock valued at $87,000 after acquiring an additional 713 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Travel + Leisure by 356.0% in the 1st quarter. SG Americas Securities LLC now owns 10,334 shares of the company’s stock valued at $478,000 after acquiring an additional 8,068 shares during the period. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Travel + Leisure news, Director Denny Marie Post sold 5,500 shares of Travel + Leisure stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the completion of the sale, the director now owns 4,477 shares of the company’s stock, valued at approximately $224,745.40. The trade was a 55.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.75% of the stock is currently owned by insiders.

Travel + Leisure Price Performance

Travel + Leisure stock opened at $48.99 on Friday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 0.47 and a beta of 1.37. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95. The business has a fifty day moving average price of $47.23 and a 200-day moving average price of $49.88.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. The firm had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $933.08 million. Travel + Leisure had a negative return on equity of 46.83% and a net margin of 10.77%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. On average, equities research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a yield of 4.57%. Travel + Leisure’s dividend payout ratio is currently 37.40%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TNL. Tigress Financial lifted their price target on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Barclays cut their price target on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating on the stock in a report on Thursday, April 24th. Truist Financial lifted their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a report on Friday, March 7th. The Goldman Sachs Group cut their price target on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley cut their price target on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.

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.