Legal & General Group Plc decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,108,400 shares of the company's stock after selling 319,907 shares during the quarter. Legal & General Group Plc owned 0.41% of Royal Caribbean Cruises worth $255,697,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC boosted its holdings in Royal Caribbean Cruises by 511.0% during 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 in the last quarter. Park Avenue Securities LLC raised its stake in 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 acquiring an additional 1,111 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of 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 purchasing an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $231,000. Finally, Geode Capital Management LLC increased its position in shares of Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have weighed in on RCL. Morgan Stanley decreased their price objective on shares of Royal Caribbean Cruises from $270.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Thursday. Citigroup increased their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Tigress Financial upped their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Barclays raised their price objective on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Susquehanna reissued a "positive" rating on shares of Royal Caribbean Cruises in a research note on Tuesday, March 25th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $276.95.
Get Our Latest Research Report on Royal Caribbean Cruises
Insider Activity
In other news, insider Laura H. Bethge sold 14,992 shares of the business's stock in a transaction on 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 sale, the insider now owns 21,155 shares of the company's stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction 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 completion of 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. Insiders sold 109,492 shares of company stock worth $28,571,705 over the last quarter. 7.95% of the stock is currently owned by company insiders.
Royal Caribbean Cruises Trading Down 0.6 %
Royal Caribbean Cruises stock traded down $1.13 during midday trading on Monday, hitting $190.88. 478,080 shares of the stock were exchanged, compared to its average volume of 2,345,943. 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 market capitalization of $51.37 billion, a PE ratio of 17.86, a P/E/G ratio of 0.90 and a beta of 2.26. The company has a fifty day simple moving average of $224.70 and a two-hundred day simple moving average of $225.60.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating 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 company posted $1.25 earnings per share. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were issued a dividend of $0.75 per share. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio (DPR) is 28.06%.
Royal Caribbean Cruises declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Royal Caribbean Cruises Profile
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Free Report)
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.
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