Principal Financial Group Inc. Has $67.14 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Principal Financial Group Inc. lifted its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 291,027 shares of the company’s stock after acquiring an additional 7,740 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Royal Caribbean Cruises worth $67,137,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC grew its position in shares of Royal Caribbean Cruises by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after purchasing an additional 1,111 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after buying an additional 12,530 shares during the period. Souders Financial Advisors acquired a new stake in Royal Caribbean Cruises during the third quarter worth approximately $800,000. Merit Financial Group LLC increased its stake in Royal Caribbean Cruises by 541.0% during the 4th quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock worth $2,283,000 after acquiring an additional 8,353 shares during the period. Finally, Swiss National Bank raised its holdings in Royal Caribbean Cruises by 0.5% in the 3rd 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 in the last quarter. 87.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Tigress Financial boosted their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Loop Capital began coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, February 4th. They issued a “hold” rating and a $250.00 price objective on the stock. The Goldman Sachs Group cut their target price on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $284.12.

Insiders Place Their Bets

In other news, 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $263.97 on Thursday. The stock’s 50-day moving average is $244.57 and its 200-day moving average is $211.54. Royal Caribbean Cruises Ltd. has a 1-year low of $113.10 and a 1-year high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a market cap of $70.98 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping 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 quarter last year, the business posted $1.25 EPS. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be given a dividend of $0.75 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 20.58%.

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

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.