Arrowstreet Capital Limited Partnership Has $41.08 Million Position in Travel + Leisure Co. (NYSE:TNL)

Arrowstreet Capital Limited Partnership increased its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 814,319 shares of the company’s stock after buying an additional 79,922 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.19% of Travel + Leisure worth $41,082,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Travel + Leisure during the fourth quarter worth about $45,804,000. Charles Schwab Investment Management Inc. increased its position in Travel + Leisure by 15.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock valued at $46,169,000 after purchasing an additional 122,173 shares during the period. Barclays PLC raised its holdings in Travel + Leisure by 80.4% during the 3rd 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 last quarter. Edgestream Partners L.P. acquired a new position in shares of Travel + Leisure in the 4th quarter worth approximately $4,639,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Travel + Leisure in the 4th quarter valued at $3,850,000. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $48.07 on Thursday. Travel + Leisure Co. has a 1 year low of $39.91 and a 1 year high of $58.95. The stock has a market capitalization of $3.21 billion, a P/E ratio of 8.23, a P/E/G ratio of 0.67 and a beta of 1.61. The company has a 50-day moving average price of $52.62 and a 200-day moving average price of $51.02.

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

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 4.66%. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, March 17th. Travel + Leisure’s payout ratio is currently 38.36%.

Analyst Upgrades and Downgrades

TNL has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. The Goldman Sachs Group upped their target price on Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Mizuho reiterated a “neutral” rating and issued a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Morgan Stanley assumed coverage on shares of Travel + Leisure in a research note on Monday, January 6th. They issued an “overweight” rating and a $67.00 price objective 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. Based on data from MarketBeat, Travel + Leisure has an average rating of “Moderate Buy” and a consensus target price of $63.70.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the sale, the director now directly owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. This represents a 69.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was acquired 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 in the company, 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. Company insiders own 4.02% of the company’s stock.

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.