Fifth Third Bancorp Has $1.41 Million Stock Position in Travel + Leisure Co. $TNL

Fifth Third Bancorp increased its position in Travel + Leisure Co. (NYSE:TNL) by 1,285.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 20,433 shares of the company’s stock after buying an additional 18,958 shares during the period. Fifth Third Bancorp’s holdings in Travel + Leisure were worth $1,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Danske Bank A S acquired a new position in shares of Travel + Leisure in the 3rd quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Travel + Leisure during the 4th quarter valued at about $43,000. Geneos Wealth Management Inc. increased its stake in Travel + Leisure by 293.0% in the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after acquiring an additional 715 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Travel + Leisure by 27.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company’s stock worth $88,000 after acquiring an additional 265 shares during the last quarter. Finally, Signaturefd LLC increased its position in Travel + Leisure by 17.8% in the 4th quarter. Signaturefd LLC now owns 1,276 shares of the company’s stock valued at $90,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Stock Down 2.8%

Shares of NYSE TNL opened at $73.46 on Friday. Travel + Leisure Co. has a twelve month low of $56.66 and a twelve month high of $81.00. The company has a market cap of $4.59 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 0.57 and a beta of 1.16. The business’s 50 day moving average price is $72.30 and its two-hundred day moving average price is $71.69.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. As a group, research analysts anticipate that Travel + Leisure Co. will post 7.53 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $2.40 annualized dividend and a dividend yield of 3.3%. Travel + Leisure’s dividend payout ratio is presently 67.42%.

Key Headlines Impacting Travel + Leisure

Here are the key news stories impacting Travel + Leisure this week:

• Positive Sentiment: Mizuho raised its price target on Travel + Leisure Co. from $105 to $107 and reiterated an outperform rating, signaling strong confidence in further upside. Benzinga
• Positive Sentiment: Wells Fargo increased its target from $87 to $92 and kept an overweight rating, reflecting a positive view on the company’s outlook after earnings. Tickerreport.com
• Positive Sentiment: Zacks Research upgraded the stock from hold to strong-buy, adding to the bullish analyst momentum around TNL. Zacks.com
• Positive Sentiment: Travel + Leisure raised its full-year outlook after reporting Q2 revenue of $1.06 billion and adjusted EPS of $1.88, with revenue topping estimates and gross VOI sales up 4% year over year. Business Wire
• Neutral Sentiment: The company’s adjusted EPS matched consensus at $1.88, while reported EPS of $1.72 and headline earnings came in below some estimates, creating a mixed reaction from investors. Zacks.com

Insider Activity

In other news, insider Kimberly Marshall sold 28,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $70.17, for a total transaction of $1,964,760.00. Following the transaction, the insider owned 33,191 shares in the company, valued at approximately $2,329,012.47. This trade represents a 45.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director directly owned 1,353 shares of the company’s stock, valued at approximately $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 31,000 shares of company stock valued at $2,161,915. 4.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TNL has been the topic of several research reports. Wells Fargo & Company upped their price target on Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday. Wall Street Zen downgraded Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Morgan Stanley raised their target price on shares of Travel + Leisure from $78.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Zacks Research upgraded shares of Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Weiss Ratings raised Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.90.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.