PNC Financial Services Group Inc. Purchases 3,269 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

PNC Financial Services Group Inc. grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,590 shares of the company's stock after purchasing an additional 3,269 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Royal Caribbean Cruises were worth $15,592,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RCL. D1 Capital Partners L.P. lifted its holdings in shares of Royal Caribbean Cruises by 3.8% during the third quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company's stock worth $278,502,000 after buying an additional 58,159 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Royal Caribbean Cruises by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,000 shares of the company's stock worth $350,418,000 after purchasing an additional 48,480 shares in the last quarter. National Pension Service increased its holdings in shares of Royal Caribbean Cruises by 138.9% during the fourth quarter. National Pension Service now owns 864,049 shares of the company's stock worth $199,327,000 after purchasing an additional 502,349 shares during the period. Swiss National Bank raised its position in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company's stock valued at $128,699,000 after buying an additional 3,800 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of Royal Caribbean Cruises by 2.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company's stock valued at $104,918,000 after buying an additional 13,520 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

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Royal Caribbean Cruises Trading Up 1.7 %

RCL traded up $3.42 during trading on Wednesday, hitting $210.59. The company's stock had a trading volume of 1,463,972 shares, compared to its average volume of 2,704,758. The firm has a market capitalization of $56.68 billion, a P/E ratio of 19.75, a PEG ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a twelve month low of $125.06 and a twelve month 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's fifty day moving average price is $242.53 and its 200-day moving average price is $219.34.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned $1.25 EPS. Analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.42%. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's payout ratio is currently 28.06%.

Insider Transactions at Royal Caribbean Cruises

In other news, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the sale, the chief financial officer now directly owns 42,127 shares of the company's stock, valued at approximately $11,021,265.74. This represents a 28.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 in the last ninety days. Company insiders own 7.95% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on RCL shares. Truist Financial increased their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. 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 report on Friday, February 7th. The Goldman Sachs Group decreased their price objective on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Argus raised their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $283.53.

Royal Caribbean Cruises Company 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.