Principal Financial Group Inc. Sells 83,394 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Principal Financial Group Inc. decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 283,287 shares of the company’s stock after selling 83,394 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Royal Caribbean Cruises worth $50,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RCL. Plato Investment Management Ltd bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after acquiring an additional 121 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Royal Caribbean Cruises by 50.3% during the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares in the company, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the transaction, the director now directly owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective 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. Truist Financial boosted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and a consensus price target of $239.75.

Royal Caribbean Cruises Trading Up 3.3 %

NYSE RCL opened at $238.43 on Monday. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one year high of $258.70. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a market cap of $64.11 billion, a P/E ratio of 24.50, a P/E/G ratio of 0.65 and a beta of 2.59. The stock’s 50-day moving average is $227.13 and its 200-day moving average is $185.17.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the company posted $3.85 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, December 27th. Royal Caribbean Cruises’s payout ratio is presently 22.61%.

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.