Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Acquired by Prosperity Financial Group Inc.

Prosperity Financial Group Inc. lifted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 20.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,864 shares of the company’s stock after acquiring an additional 1,157 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Royal Caribbean Cruises were worth $1,583,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RCL. National Pension Service lifted its position in Royal Caribbean Cruises by 138.9% in the 4th quarter. National Pension Service now owns 864,049 shares of the company’s stock worth $199,327,000 after buying an additional 502,349 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at $69,556,000. AustralianSuper Pty Ltd grew its stake in Royal Caribbean Cruises by 2,042.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock valued at $28,349,000 after buying an additional 117,152 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Royal Caribbean Cruises by 138.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after purchasing an additional 93,899 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Royal Caribbean Cruises in the 3rd quarter worth $14,544,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Activity at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the company’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 transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now 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 disclosure for this sale can be found here. Over the last three months, 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 Price Performance

NYSE:RCL opened at $207.07 on Wednesday. Royal Caribbean Cruises Ltd. has a one year low of $125.06 and a one year high of $277.08. The company has a market cap of $55.73 billion, a P/E ratio of 19.37, a P/E/G ratio of 0.90 and a beta of 2.53. The firm’s fifty day moving average price is $242.53 and its two-hundred day moving average price is $219.34. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating 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 period in the prior year, the company earned $1.25 EPS. Equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a $0.75 dividend. The ex-dividend date is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Analysts Set New Price Targets

A number of research firms have recently commented on RCL. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Argus raised their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, 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 report on Wednesday, March 5th. Three research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.53.

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.