CIBC Private Wealth Group LLC Sells 1,627 Shares of Travel + Leisure Co. (NYSE:TNL)

CIBC Private Wealth Group LLC reduced its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 60,392 shares of the company’s stock after selling 1,627 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Travel + Leisure were worth $3,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Barclays PLC boosted its position in Travel + Leisure by 80.4% during the third quarter. Barclays PLC now owns 225,326 shares of the company’s stock worth $10,383,000 after purchasing an additional 100,440 shares during the period. FMR LLC boosted its holdings in shares of Travel + Leisure by 28.5% during 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. Oak Thistle LLC acquired a new position in Travel + Leisure in the 4th quarter valued at about $1,288,000. Captrust Financial Advisors bought a new position in Travel + Leisure in the 3rd quarter valued at about $224,000. Finally, Amundi lifted its position in Travel + Leisure by 22.8% during the fourth quarter. Amundi now owns 5,940 shares of the company’s stock worth $302,000 after acquiring an additional 1,103 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Michael Dean Brown purchased 2,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. This represents a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Herrera sold 6,336 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the sale, the director now directly owns 2,759 shares in the company, valued at approximately $129,121.20. This trade represents 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 Up 3.6 %

Shares of Travel + Leisure stock opened at $48.07 on Thursday. The company has a market cap of $3.21 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61. The company has a 50 day moving average of $52.62 and a 200-day moving average of $51.02. Travel + Leisure Co. has a 1-year low of $39.91 and a 1-year high of $58.95.

Travel + Leisure (NYSE:TNL) last released its 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. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $958.87 million. During the same period in the prior year, the company earned $1.98 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Research 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 announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s payout ratio is currently 38.36%.

Wall Street Analysts Forecast Growth

TNL has been the topic of a number of recent research reports. Mizuho reiterated a “neutral” rating and set a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Tigress Financial increased their price objective on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their target price on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial raised their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and increased their target price for the stock from $40.00 to $60.00 in a research report on Monday, January 27th. 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 stock. According to data from MarketBeat.com, Travel + Leisure presently has an average rating of “Moderate Buy” and an average target price of $63.70.

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.