Assetmark Inc. Has $25.36 Million Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Assetmark Inc. lessened its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 109,926 shares of the company’s stock after selling 1,723 shares during the quarter. Assetmark Inc.’s holdings in Royal Caribbean Cruises were worth $25,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hemington Wealth Management boosted its holdings in shares of Royal Caribbean Cruises by 9.0% during the 4th quarter. Hemington Wealth Management now owns 533 shares of the company’s stock worth $123,000 after buying an additional 44 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock worth $544,000 after buying an additional 50 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 12.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock worth $106,000 after buying an additional 50 shares in the last quarter. DT Investment Partners LLC boosted its holdings in shares of Royal Caribbean Cruises by 16.7% during the 4th quarter. DT Investment Partners LLC now owns 350 shares of the company’s stock worth $81,000 after buying an additional 50 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in shares of Royal Caribbean Cruises by 2.5% during the 4th quarter. Brooklyn Investment Group now owns 2,117 shares of the company’s stock worth $488,000 after buying an additional 52 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the sale, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the sale, the director now directly owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock valued at $28,571,705 in the last ninety days. 7.95% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on RCL. The Goldman Sachs Group cut their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Morgan Stanley increased their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Citigroup increased their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Argus increased their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus increased their target price on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $283.53.

Royal Caribbean Cruises Trading Up 1.9 %

NYSE RCL opened at $231.33 on Thursday. The firm has a market capitalization of $62.26 billion, a P/E ratio of 21.64, a PEG ratio of 0.90 and a beta of 2.53. The business has a fifty day simple moving average of $244.35 and a 200 day simple moving average of $217.50. Royal Caribbean Cruises Ltd. has a 12 month low of $124.24 and a 12 month 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.

Royal Caribbean Cruises (NYSE:RCL) last released 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 return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the company posted $1.25 earnings per share. On average, analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. 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 dividend yield of 1.30%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

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.