Nippon Life Global Investors Americas Inc. Lowers Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nippon Life Global Investors Americas Inc. trimmed its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,090 shares of the company's stock after selling 15,650 shares during the quarter. Royal Caribbean Cruises makes up 1.7% of Nippon Life Global Investors Americas Inc.'s investment portfolio, making the stock its 19th largest position. Nippon Life Global Investors Americas Inc. owned approximately 0.06% of Royal Caribbean Cruises worth $36,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares during the period. Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Truvestments Capital LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $36,000. ORG Wealth Partners LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $40,000. Finally, Atlantic Edge Private Wealth Management LLC grew its position in shares of Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock worth $46,000 after buying an additional 100 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Up 1.9 %

Shares of Royal Caribbean Cruises stock traded up $3.99 during trading on Thursday, hitting $211.49. 1,515,761 shares of the company were exchanged, compared to its average volume of 2,322,597. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $277.08. 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 $57.42 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. The firm's fifty day moving average price is $212.88 and its 200 day moving average price is $226.18.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates 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 company posted $1.25 earnings per share. As a group, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were issued a $0.75 dividend. The ex-dividend date of this dividend 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 1.42%. Royal Caribbean Cruises's payout ratio is currently 28.06%.

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

Wall Street Analyst Weigh In

RCL has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday. Stifel Nicolaus decreased their price target on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley cut their price target on Royal Caribbean Cruises from $270.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price objective for the company in a research report on Wednesday, March 5th. Finally, Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average target price of $272.53.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was 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 in the company, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $15,193,100.00. Following the completion of the sale, the chief executive officer now owns 143,214 shares of the company's stock, valued at approximately $37,514,907.30. This represents 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 have sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company's stock.

Royal Caribbean Cruises 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.