Corebridge Financial Inc. Trims Stock Holdings in Royal Caribbean Cruises Ltd. $RCL

Key Points

• Corebridge Financial Inc. reduced its holdings in Royal Caribbean Cruises Ltd. by 3.7%, now owning 61,207 shares valued at approximately $12.57 million.
• Royal Caribbean Cruises recently reported a quarterly earnings per share (EPS) of $4.38, surpassing analyst estimates by $0.34, alongside a revenue of $4.54 billion.
• Institutional investors collectively own 87.53% of Royal Caribbean's stock, reflecting strong institutional interest and investment in the company.

Corebridge Financial Inc. reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,207 shares of the company's stock after selling 2,357 shares during the quarter. Corebridge Financial Inc.'s holdings in Royal Caribbean Cruises were worth $12,574,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Synovus Financial Corp bought a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $423,000. ICONIQ Capital LLC grew its holdings in Royal Caribbean Cruises by 28.4% during the 1st quarter. ICONIQ Capital LLC now owns 1,896 shares of the company's stock worth $390,000 after acquiring an additional 419 shares during the last quarter. Quantitative Investment Management LLC grew its holdings in Royal Caribbean Cruises by 94.8% during the 1st quarter. Quantitative Investment Management LLC now owns 12,958 shares of the company's stock worth $2,662,000 after acquiring an additional 6,307 shares during the last quarter. Forest Avenue Capital Management LP boosted its stake in shares of Royal Caribbean Cruises by 71.2% in the 1st quarter. Forest Avenue Capital Management LP now owns 283,127 shares of the company's stock valued at $58,166,000 after purchasing an additional 117,768 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Royal Caribbean Cruises by 11.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,346 shares of the company's stock valued at $487,000 after purchasing an additional 234 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Henry L. Pujol sold 5,207 shares of the firm'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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vagn O. Sorensen sold 10,300 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the sale, the director owned 16,407 shares of the company's stock, valued at $5,414,966.28. This trade represents a 38.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,507 shares of company stock worth $10,091,282. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Stock Down 0.8%

RCL traded down $2.77 during trading on Friday, hitting $363.07. 1,962,254 shares of the company's stock were exchanged, compared to its average volume of 2,000,324. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. The business's 50 day moving average is $328.20 and its two-hundred day moving average is $264.10. Royal Caribbean Cruises Ltd. has a fifty-two week low of $154.08 and a fifty-two week high of $366.50. The stock has a market cap of $98.62 billion, a P/E ratio of 27.22, a PEG ratio of 1.03 and a beta of 2.22.

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

Analysts Set New Price Targets

RCL has been the topic of a number of analyst reports. Macquarie reduced their price objective on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group upped their price objective on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research note on Monday, July 7th. Sanford C. Bernstein upped their price objective on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Susquehanna reaffirmed a "positive" rating and issued a $385.00 price objective (up from $275.00) on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. Finally, Truist Financial set a $337.00 price objective on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and a consensus price target of $327.14.

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.