Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. increased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 63,564 shares of the company’s stock after buying an additional 2,256 shares during the period. Corebridge Financial Inc.’s holdings in Royal Caribbean Cruises were worth $14,664,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RCL. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $27,000. LRI Investments LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth $31,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter worth $36,000. Truvestments Capital LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at $36,000. Finally, ORG Wealth Partners LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $40,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 185,021 shares in the company, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. 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 currently owned by insiders.

Analysts Set New Price Targets

RCL has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective for the company. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Citigroup lifted their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, UBS Group increased their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $283.53.

Royal Caribbean Cruises Trading Down 0.2 %

RCL opened at $225.06 on Wednesday. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month 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 stock has a market capitalization of $60.57 billion, a PE ratio of 21.05, a P/E/G ratio of 0.90 and a beta of 2.53. The firm’s fifty day moving average price is $239.89 and its 200 day moving average price is $223.00.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (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 last year, the firm posted $1.25 EPS. As a group, research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a $0.75 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.33%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 28.06%.

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.