MetLife Investment Management LLC Has $1.66 Million Stock Position in Travel + Leisure Co. (NYSE:TNL)

MetLife Investment Management LLC lessened its holdings in Travel + Leisure Co. (NYSE:TNL) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,007 shares of the company’s stock after selling 1,468 shares during the quarter. MetLife Investment Management LLC owned 0.05% of Travel + Leisure worth $1,659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its position in Travel + Leisure by 440.7% in the second quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock valued at $27,624,000 after acquiring an additional 500,554 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Travel + Leisure by 318.4% during the 2nd quarter. Acadian Asset Management LLC now owns 405,252 shares of the company’s stock valued at $18,217,000 after purchasing an additional 308,391 shares during the last quarter. Algert Global LLC grew its holdings in shares of Travel + Leisure by 168.9% during the 3rd quarter. Algert Global LLC now owns 319,279 shares of the company’s stock valued at $14,712,000 after purchasing an additional 200,549 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Travel + Leisure during the 2nd quarter worth approximately $7,480,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Travel + Leisure by 21.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock valued at $36,540,000 after purchasing an additional 138,153 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Performance

NYSE:TNL opened at $55.43 on Friday. Travel + Leisure Co. has a 52 week low of $36.47 and a 52 week high of $56.91. The firm’s fifty day moving average is $50.00 and its 200-day moving average is $46.17. The firm has a market cap of $3.79 billion, a P/E ratio of 9.41, a P/E/G ratio of 0.80 and a beta of 1.63.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. The firm had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $1.54 EPS. As a group, sell-side analysts anticipate that Travel + Leisure Co. will post 5.75 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Friday, December 13th. Travel + Leisure’s dividend payout ratio (DPR) is presently 33.96%.

Insiders Place Their Bets

In other news, Director Stephen P. Holmes sold 80,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $47.55, for a total transaction of $3,804,000.00. Following the transaction, the director now owns 362,947 shares of the company’s stock, valued at $17,258,129.85. This represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geoffrey Richards sold 9,400 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.56, for a total value of $531,664.00. Following the completion of the sale, the insider now directly owns 111,202 shares of the company’s stock, valued at $6,289,585.12. The trade was a 7.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,455 shares of company stock worth $5,075,834. Corporate insiders own 4.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TNL. Tigress Financial boosted their target price on shares of Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group upped their target price on Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their target price on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial boosted their price target on Travel + Leisure from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Barclays raised their price objective on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. One equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.80.

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.