MetLife Investment Management LLC Has $15.90 Million Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

MetLife Investment Management LLC increased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,916 shares of the company's stock after buying an additional 3,590 shares during the quarter. MetLife Investment Management LLC's holdings in Royal Caribbean Cruises were worth $15,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RCL. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Royal Caribbean Cruises by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock worth $470,000 after purchasing an additional 39 shares in the last quarter. Ostrum Asset Management lifted its position in Royal Caribbean Cruises by 0.3% during the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock worth $2,678,000 after purchasing an additional 40 shares during the period. Farther Finance Advisors LLC grew its stake in Royal Caribbean Cruises by 1.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock worth $630,000 after buying an additional 42 shares in the last quarter. Hemington Wealth Management increased its holdings in 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 buying an additional 44 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in shares of Royal Caribbean Cruises by 3.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock valued at $313,000 after buying an additional 47 shares in the last quarter. Institutional investors own 87.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Susquehanna reissued a "positive" rating on shares of Royal Caribbean Cruises in a research note on Tuesday, March 25th. Barclays lifted their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. BNP Paribas began coverage on Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an "outperform" rating and a $262.00 price objective for the company. Loop Capital upgraded Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price on the stock in a research report on Wednesday, March 5th. Finally, Tigress Financial boosted their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $276.95.

Royal Caribbean Cruises Price Performance

RCL stock opened at $192.52 on Monday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a 52-week low of $129.54 and a 52-week high of $277.08. The company has a market capitalization of $51.81 billion, a P/E ratio of 18.01, a PEG ratio of 0.90 and a beta of 2.26. The company has a fifty day moving average price of $217.55 and a 200-day moving average price of $226.20.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the prior year, the firm posted $1.25 EPS. As a group, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were issued a $0.75 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.56%. Royal Caribbean Cruises's dividend payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its board has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,500 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 approximately $5,539,648.30. The trade was a 41.48 % 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 currently owned by company 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.

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