Hancock Whitney Corp Boosts Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Hancock Whitney Corp lifted its holdings in Travel + Leisure Co. (NYSE:TNL) by 3.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 44,477 shares of the company’s stock after purchasing an additional 1,690 shares during the period. Hancock Whitney Corp’s holdings in Travel + Leisure were worth $2,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TNL. Swedbank AB bought a new position in Travel + Leisure in the first quarter worth approximately $33,598,000. Millennium Management LLC raised its position in shares of Travel + Leisure by 440.7% in the 2nd quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock worth $27,624,000 after acquiring an additional 500,554 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Travel + Leisure by 318.4% in the 2nd quarter. Acadian Asset Management LLC now owns 405,252 shares of the company’s stock worth $18,217,000 after acquiring an additional 308,391 shares in the last quarter. Algert Global LLC lifted its stake 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 worth $14,712,000 after purchasing an additional 200,549 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Travel + Leisure during the second quarter valued at about $7,480,000. 87.54% of the stock is currently owned by institutional investors.

Insider Transactions at Travel + Leisure

In other news, Director Stephen P. Holmes sold 80,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $47.55, for a total value of $3,804,000.00. Following the sale, the director now owns 362,947 shares in the company, valued at $17,258,129.85. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geoffrey Richards sold 5,009 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total value of $261,269.44. Following the sale, the insider now directly owns 125,209 shares in the company, valued at approximately $6,530,901.44. This trade represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,055 shares of company stock worth $4,544,170 over the last 90 days. 4.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TNL has been the subject of several analyst reports. Tigress Financial increased their price target on shares of Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Truist Financial decreased their target price on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. The Goldman Sachs Group lifted their price target on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Barclays increased their price objective on Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.67.

Travel + Leisure Price Performance

Shares of TNL stock opened at $56.30 on Tuesday. The business has a fifty day moving average of $48.45 and a 200 day moving average of $45.69. Travel + Leisure Co. has a 1 year low of $35.41 and a 1 year high of $56.91. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 0.79 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.08. The firm had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the business posted $1.54 earnings per share. As a group, equities research analysts expect that Travel + Leisure Co. will post 5.77 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Friday, December 13th. Travel + Leisure’s dividend payout ratio (DPR) is currently 33.96%.

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.