Prudential Financial Inc. Sells 1,503 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Prudential Financial Inc. lowered its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,861 shares of the company's stock after selling 1,503 shares during the quarter. Prudential Financial Inc.'s holdings in Royal Caribbean Cruises were worth $8,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RCL. Venturi Wealth Management LLC grew its holdings in shares of Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock worth $498,000 after acquiring an additional 1,804 shares during the period. Park Avenue Securities LLC grew its stake in Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock worth $1,530,000 after purchasing an additional 1,111 shares during the period. Sanctuary Advisors LLC raised its holdings in Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock worth $5,142,000 after purchasing an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at $231,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Royal Caribbean Cruises by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock valued at $67,137,000 after buying an additional 7,740 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

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Royal Caribbean Cruises Stock Performance

RCL stock traded up $2.43 during midday trading on Tuesday, reaching $207.87. 2,077,605 shares of the company's stock traded hands, compared to its average volume of 2,322,155. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 52-week low of $125.06 and a 52-week high of $277.08. The stock has a market cap of $55.94 billion, a P/E ratio of 19.44, a PEG ratio of 0.90 and a beta of 2.53. The stock's 50-day moving average is $237.90 and its 200 day moving average is $224.44.

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 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 period in the previous year, the company posted $1.25 EPS. As a group, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

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

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a dividend of $0.75 per share. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's payout ratio is presently 28.06%.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the transaction, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price target for the company in a research note on Wednesday, March 5th. Truist Financial raised their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Mizuho reiterated an "outperform" rating and set a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Argus upped their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group started coverage on Royal Caribbean Cruises in a research note on Monday. They set a "hold" rating and a $230.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $279.58.

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.