PNC Financial Services Group Inc. Increases Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

PNC Financial Services Group Inc. boosted its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 46,653 shares of the company’s stock after acquiring an additional 527 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Royal Caribbean Cruises were worth $6,041,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RCL. BKM Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth about $26,000. Creekmur Asset Management LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth about $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth about $33,000. Finally, Hanseatic Management Services Inc. purchased a new stake in Royal Caribbean Cruises in the third quarter worth about $36,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $149.12 on Tuesday. Royal Caribbean Cruises Ltd. has a 52 week low of $78.35 and a 52 week high of $157.58. The stock has a market capitalization of $38.38 billion, a P/E ratio of 19.22, a PEG ratio of 0.45 and a beta of 2.56. The firm has a fifty day simple moving average of $142.66 and a two-hundred day simple moving average of $131.35. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the company posted ($0.23) EPS. The business’s revenue was up 29.2% on a year-over-year basis. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 11.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RCL has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Wells Fargo & Company increased their price objective on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Argus increased their price objective on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, Barclays increased their price objective on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.07.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,584 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the sale, the director now owns 179,117 shares in the company, valued at approximately $27,576,853.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now owns 179,117 shares in the company, valued at approximately $27,576,853.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the sale, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at approximately $2,356,705.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,884 shares of company stock worth $22,052,985. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Company 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.