Principal Financial Group Inc. Has $50.24 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Principal Financial Group Inc. cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 22.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 283,287 shares of the company’s stock after selling 83,394 shares during the quarter. Principal Financial Group Inc.’s holdings in Royal Caribbean Cruises were worth $50,244,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RCL. D1 Capital Partners L.P. raised its stake in shares of Royal Caribbean Cruises by 105.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after purchasing an additional 777,103 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Royal Caribbean Cruises by 10,599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Royal Caribbean Cruises by 24.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after purchasing an additional 400,565 shares during the period. Forest Avenue Capital Management LP acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $35,038,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Royal Caribbean Cruises by 809.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock worth $27,601,000 after purchasing an additional 154,090 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the sale, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This trade represents a 40.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 in the last ninety days. 7.95% of the stock is owned by insiders.

Royal Caribbean Cruises Stock Up 3.3 %

Shares of NYSE RCL opened at $238.43 on Monday. Royal Caribbean Cruises Ltd. has a 52 week low of $113.10 and a 52 week high of $258.70. The stock’s fifty day moving average is $227.13 and its 200 day moving average is $185.17. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The stock has a market capitalization of $64.11 billion, a P/E ratio of 24.50, a PEG ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.85 EPS. Sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 22.61%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. Wells Fargo & Company raised their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Tigress Financial lifted their target price on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.75.

About Royal Caribbean Cruises

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.