PNC Financial Services Group Inc. Has $15.59 Million Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

PNC Financial Services Group Inc. boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,590 shares of the company’s stock after purchasing an additional 3,269 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Royal Caribbean Cruises were worth $15,592,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RCL. D1 Capital Partners L.P. grew its holdings in shares of Royal Caribbean Cruises by 3.8% in the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock valued at $278,502,000 after buying an additional 58,159 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Royal Caribbean Cruises by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,000 shares of the company’s stock worth $350,418,000 after acquiring an additional 48,480 shares in the last quarter. National Pension Service lifted its holdings in Royal Caribbean Cruises by 138.9% during the fourth quarter. National Pension Service now owns 864,049 shares of the company’s stock worth $199,327,000 after acquiring an additional 502,349 shares in the last quarter. Swiss National Bank grew its stake in Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after acquiring an additional 3,800 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its holdings in shares of Royal Caribbean Cruises by 2.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after acquiring an additional 13,520 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises 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 completion of the transaction, the director now directly owns 185,021 shares of the company’s stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the company’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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 over the last 90 days. Company insiders own 7.95% of the company’s stock.

Wall Street Analyst Weigh In

RCL has been the topic of several recent analyst reports. Barclays lifted their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Argus increased their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Bank of America boosted their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Macquarie increased their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average target price of $283.53.

Royal Caribbean Cruises Trading Down 3.2 %

Shares of Royal Caribbean Cruises stock opened at $207.09 on Tuesday. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The business’s 50 day moving average is $243.00 and its 200-day moving average is $219.03. The stock 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.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 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 in the previous year, the company earned $1.25 earnings per share. Equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board 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. Shareholders of record on Friday, March 7th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is 28.06%.

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.