Corebridge Financial Inc. Purchases 2,256 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Corebridge Financial Inc. boosted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,564 shares of the company's stock after purchasing 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 quarter.

Other large investors have also recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC boosted its stake in Royal Caribbean Cruises by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock valued at $470,000 after buying an additional 39 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 1.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock worth $630,000 after acquiring an additional 42 shares during the last quarter. Hemington Wealth Management boosted its stake in shares of Royal Caribbean Cruises by 9.0% in the 4th quarter. Hemington Wealth Management now owns 533 shares of the company's stock valued at $123,000 after purchasing an additional 44 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock valued at $313,000 after purchasing an additional 47 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company's stock worth $544,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

RCL has been the topic of a number of research analyst reports. Mizuho restated an "outperform" rating and issued a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Argus raised their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. The Goldman Sachs Group reduced their price objective on Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Truist Financial increased their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Finally, Wells Fargo & Company boosted their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $282.33.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded down $9.89 during mid-day trading on Friday, reaching $207.35. 2,547,926 shares of the company's stock were exchanged, compared to its average volume of 2,316,864. Royal Caribbean Cruises Ltd. has a 52 week low of $125.06 and a 52 week high of $277.08. The firm has a 50-day moving average price of $238.63 and a two-hundred day moving average price of $223.72. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The firm has a market capitalization of $55.80 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 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 period in the previous year, the firm posted $1.25 EPS. Analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. Royal Caribbean Cruises's dividend payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the transaction, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the company's stock in a transaction that occurred on 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 owns 143,214 shares in the company, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by insiders.

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.