Insigneo Advisory Services LLC Purchases 200 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Insigneo Advisory Services LLC raised its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,321 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Royal Caribbean Cruises were worth $766,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth $313,000. Hanlon Investment Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at about $893,000. CreativeOne Wealth LLC boosted its stake in shares of Royal Caribbean Cruises by 3.3% in the fourth quarter. CreativeOne Wealth LLC now owns 8,070 shares of the company’s stock worth $1,862,000 after acquiring an additional 258 shares during the period. Mariner LLC grew its position in shares of Royal Caribbean Cruises by 6.8% during the fourth quarter. Mariner LLC now owns 84,451 shares of the company’s stock worth $19,484,000 after purchasing an additional 5,376 shares in the last quarter. Finally, Trustmark National Bank Trust Department raised its stake in Royal Caribbean Cruises by 37.1% during the 4th quarter. Trustmark National Bank Trust Department now owns 1,564 shares of the company’s stock valued at $361,000 after purchasing an additional 423 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RCL has been the subject of several recent analyst reports. Citigroup upped their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Argus raised their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Barclays boosted their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group cut their price objective on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Macquarie boosted their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.95.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $191.44 on Thursday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm has a market cap of $51.52 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. The firm’s 50 day simple moving average is $220.20 and its 200-day simple moving average is $225.24. Royal Caribbean Cruises Ltd. has a one year low of $126.65 and a one year high of $277.08.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were given a dividend of $0.75 per share. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.57%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 28.06%.

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

Insider Activity

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the business’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 transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of the firm’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 sale, the director now owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by corporate insiders.

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.