PNC Financial Services Group Inc. Increases Holdings in Royal Caribbean Cruises Ltd. (RCL)

PNC Financial Services Group Inc. raised its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1,754.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 684,387 shares of the company’s stock after acquiring an additional 647,483 shares during the period. PNC Financial Services Group Inc. owned approximately 0.32% of Royal Caribbean Cruises worth $74,756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NEXT Financial Group Inc increased its holdings in Royal Caribbean Cruises by 25.0% in the 1st quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock valued at $107,000 after acquiring an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Royal Caribbean Cruises in the 1st quarter valued at $119,000. Acadian Asset Management LLC increased its holdings in Royal Caribbean Cruises by 447.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock valued at $174,000 after acquiring an additional 1,453 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $203,000. Finally, First American Bank bought a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $205,000. Institutional investors own 71.60% of the company’s stock.

Shares of Royal Caribbean Cruises Ltd. (RCL) traded down 2.13% during midday trading on Friday, reaching $120.92. 2,624,259 shares of the company were exchanged. The firm has a 50-day moving average of $119.72 and a 200 day moving average of $108.73. The firm has a market capitalization of $26.01 billion, a P/E ratio of 16.96 and a beta of 1.03. Royal Caribbean Cruises Ltd. has a 52 week low of $65.45 and a 52 week high of $125.00.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. Royal Caribbean Cruises’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post $7.44 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, September 21st. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 26.97%.

In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 210,706 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the completion of the transaction, the chief executive officer now owns 967,741 shares of the company’s stock, valued at $112,093,440.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $109.62, for a total transaction of $2,192,400.00. Following the transaction, the chief executive officer now directly owns 967,741 shares of the company’s stock, valued at approximately $106,083,768.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 480,079 shares of company stock valued at $56,139,855. 15.30% of the stock is currently owned by insiders.

A number of brokerages have issued reports on RCL. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a report on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 price target on shares of Royal Caribbean Cruises in a report on Thursday, September 7th. BidaskClub upgraded shares of Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Goldman Sachs Group, Inc. (The) downgraded shares of Royal Caribbean Cruises to a “sell” rating in a report on Tuesday, August 15th. Finally, UBS AG reissued a “buy” rating and issued a $131.00 price objective (up from $112.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $118.49.

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Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).

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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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