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

Corebridge Financial Inc. lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,564 shares of the company’s stock after acquiring an additional 2,256 shares during the period. Corebridge Financial Inc.’s holdings in Royal Caribbean Cruises were worth $14,664,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RCL. Venturi Wealth Management LLC increased its stake in Royal Caribbean Cruises by 511.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock valued at $498,000 after purchasing an additional 1,804 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Royal Caribbean Cruises by 20.1% during the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after buying an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC increased its position in Royal Caribbean Cruises by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after acquiring an additional 12,530 shares during the period. Lorne Steinberg Wealth Management Inc. purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at approximately $231,000. Finally, Principal Financial Group Inc. lifted its position in Royal Caribbean Cruises by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock worth $67,137,000 after acquiring an additional 7,740 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the sale, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard D. Fain sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the transaction, the director now directly owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by insiders.

Royal Caribbean Cruises Trading Down 0.2 %

NYSE:RCL opened at $225.06 on Wednesday. Royal Caribbean Cruises Ltd. has a 52-week low of $125.06 and a 52-week high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The stock has a fifty day simple moving average of $239.89 and a 200-day simple moving average of $223.00. The company has a market capitalization of $60.57 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a $0.75 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Analyst Ratings Changes

RCL has been the subject of several analyst reports. Argus upped their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Morgan Stanley upped their price objective on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. UBS Group lifted their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Truist Financial increased their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Susquehanna reaffirmed a “positive” rating on shares of Royal Caribbean Cruises in a report on Tuesday. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.53.

Royal Caribbean Cruises Company 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.