Prosperity Financial Group Inc. Raises Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Prosperity Financial Group Inc. lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,707 shares of the company’s stock after buying an additional 512 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Royal Caribbean Cruises were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RCL. FSM Wealth Advisors LLC boosted its holdings in shares of Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after acquiring an additional 51 shares during the period. Venturi Wealth Management LLC lifted its position in Royal Caribbean Cruises by 20.9% in the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock worth $63,000 after purchasing an additional 61 shares during the period. Venture Visionary Partners LLC boosted its stake in Royal Caribbean Cruises by 4.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock valued at $242,000 after purchasing an additional 62 shares in the last quarter. Empower Advisory Group LLC increased its position in shares of Royal Caribbean Cruises by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock valued at $311,000 after purchasing an additional 63 shares during the period. Finally, Ipswich Investment Management Co. Inc. raised its stake in shares of Royal Caribbean Cruises by 3.3% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 2,201 shares of the company’s stock worth $390,000 after buying an additional 70 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $241.49 on Monday. The firm has a 50 day moving average of $201.02 and a two-hundred day moving average of $171.70. Royal Caribbean Cruises Ltd. has a 12 month low of $103.61 and a 12 month high of $242.20. The company has a market capitalization of $64.93 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 0.64 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the company posted $3.85 EPS. The firm’s revenue was up 17.5% on a year-over-year basis. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the transaction, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 407,405 shares of company stock worth $94,817,966. 7.95% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on RCL. JPMorgan Chase & Co. raised their target price on Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Morgan Stanley lifted their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Truist Financial boosted their target price on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Tigress Financial raised their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $220.00.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.