Allstate Corp Raises Holdings in Royal Caribbean Cruises Ltd. $RCL

Key Points

• Allstate Corp increased its holdings in Royal Caribbean Cruises by 69.1% in Q1 2023, owning a total of 12,233 shares valued at $2.51 million.
• Royal Caribbean reported better-than-expected Q2 earnings with an EPS of $4.38, surpassing predictions, and is projecting strong EPS growth for FY 2025.
• Institutional and hedge fund investors have significant ownership, holding 87.53% of Royal Caribbean's stock, indicating strong institutional interest in the company.

Allstate Corp grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 69.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,233 shares of the company's stock after buying an additional 4,998 shares during the quarter. Allstate Corp's holdings in Royal Caribbean Cruises were worth $2,513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Compound Planning Inc. lifted its holdings in Royal Caribbean Cruises by 13.1% in the first quarter. Compound Planning Inc. now owns 3,173 shares of the company's stock valued at $652,000 after acquiring an additional 367 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Royal Caribbean Cruises by 112.9% during the 1st quarter. Ameriprise Financial Inc. now owns 566,273 shares of the company's stock worth $116,396,000 after purchasing an additional 300,232 shares during the period. Norinchukin Bank The increased its holdings in shares of Royal Caribbean Cruises by 11.7% in the 1st quarter. Norinchukin Bank The now owns 10,393 shares of the company's stock valued at $2,135,000 after purchasing an additional 1,091 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Royal Caribbean Cruises by 10.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,254 shares of the company's stock valued at $463,000 after purchasing an additional 218 shares during the period. Finally, Legacy Financial Advisors Inc. boosted its holdings in Royal Caribbean Cruises by 3.8% during the first quarter. Legacy Financial Advisors Inc. now owns 2,268 shares of the company's stock worth $466,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Royal Caribbean Cruises Stock Up 5.9%

Shares of Royal Caribbean Cruises stock opened at $344.2190 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 1.88. Royal Caribbean Cruises Ltd. has a twelve month low of $154.08 and a twelve month high of $355.91. The stock has a market cap of $93.50 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 0.91 and a beta of 2.22. The company has a fifty day moving average price of $319.17 and a 200 day moving average price of $260.88.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.04 by $0.34. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.Royal Caribbean Cruises's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 EPS. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard D. Fain sold 16,000 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total value of $4,976,320.00. Following the completion of the sale, the director owned 150,291 shares in the company, valued at approximately $46,743,506.82. The trade was a 9.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henry L. Pujol sold 5,207 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the completion of the sale, the chief accounting officer owned 7,826 shares in the company, valued at approximately $2,578,432.22. This trade represents a 39.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,507 shares of company stock worth $10,091,282 over the last ninety days. Corporate insiders own 6.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RCL shares. William Blair restated an "outperform" rating on shares of Royal Caribbean Cruises in a research report on Wednesday, July 23rd. Bank of America upped their price target on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Barclays raised their price objective on Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Truist Financial set a $337.00 price objective on Royal Caribbean Cruises in a report on Wednesday, July 30th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $385.00 price target (up previously from $275.00) on shares of Royal Caribbean Cruises in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $327.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.