Assetmark Inc. Sells 13,008 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

• Assetmark Inc. trimmed its stake in Royal Caribbean by 3.1%, selling 13,008 shares and now holding 401,886 shares worth about $112.09 million (0.15% of the company).
• Large insider selling: CEO Jason T. Liberty sold 90,910 shares for ~$29.71M (a 29.35% cut to his holding) and director Arne A. Wilhelmsen sold 356,026 shares for ~$113.36M; insiders sold 1,967,319 shares totaling ~$626.68M over the past three months.
• Dividend hike and analyst view: Royal Caribbean raised its quarterly dividend to $1.50 (annualized $6.00, ~2.1% yield); the stock has a $76.27B market cap, P/E of 18.06, and a consensus analyst price target of $352.35 (Moderate Buy).

Assetmark Inc. trimmed its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 401,886 shares of the company's stock after selling 13,008 shares during the quarter. Assetmark Inc. owned 0.15% of Royal Caribbean Cruises worth $112,094,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. SRH Advisors LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $28,000. Evolution Wealth Management Inc. bought a new stake in Royal Caribbean Cruises during the 2nd quarter worth approximately $31,000. GGM Financials LLC bought a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton bought a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $33,000. Finally, JPL Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $37,000. 87.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 90,910 shares of the firm's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $326.81, for a total value of $29,710,297.10. Following the completion of the transaction, the chief executive officer directly owned 218,822 shares of the company's stock, valued at approximately $71,513,217.82. This trade represents a 29.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 356,026 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $318.39, for a total transaction of $113,355,118.14. Following the completion of the transaction, the director directly owned 16,681,386 shares of the company's stock, valued at $5,311,186,488.54. This represents a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,967,319 shares of company stock valued at $626,681,935 over the last three months. 6.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $281.94 on Tuesday. The stock has a market capitalization of $76.27 billion, a P/E ratio of 18.06, a P/E/G ratio of 0.92 and a beta of 1.93. Royal Caribbean Cruises Ltd. has a twelve month low of $185.50 and a twelve month high of $366.50. The company has a 50 day moving average of $295.29 and a 200-day moving average of $289.72. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 1.77.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.80 earnings per share for the quarter, hitting the consensus estimate of $2.80. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The company had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $4.28 billion. During the same period last year, the business earned $1.63 EPS. The business's quarterly revenue was up 13.2% on a year-over-year basis. As a group, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 6th were paid a $1.50 dividend. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $1.00. This represents a $6.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, March 6th. Royal Caribbean Cruises's dividend payout ratio (DPR) is 38.44%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial increased their target price on Royal Caribbean Cruises from $318.00 to $327.00 and gave the stock a "hold" rating in a research note on Tuesday, March 24th. Bank of America raised their price target on shares of Royal Caribbean Cruises from $325.00 to $330.00 and gave the stock a "neutral" rating in a research note on Monday, January 12th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $380.00 price target on shares of Royal Caribbean Cruises in a research note on Friday, January 30th. Barclays decreased their price target on shares of Royal Caribbean Cruises from $361.00 to $351.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Wells Fargo & Company raised their price target on shares of Royal Caribbean Cruises from $373.00 to $383.00 and gave the stock an "overweight" rating in a research note on Sunday, February 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $352.35.

About Royal Caribbean Cruises

Royal Caribbean Cruises NYSE: RCL, operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean's ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.

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