Royal Caribbean Cruises Ltd. $RCL Position Increased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC lifted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 20,527.3% during the third quarter, Holdings Channel reports. The institutional investor owned 2,269 shares of the company’s stock after buying an additional 2,258 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Royal Caribbean Cruises were worth $603,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Royal Caribbean Cruises during the second quarter valued at approximately $6,549,422,000. State Street Corp boosted its stake in Royal Caribbean Cruises by 2.6% in the second quarter. State Street Corp now owns 10,689,134 shares of the company’s stock valued at $3,409,971,000 after acquiring an additional 270,930 shares in the last quarter. Primecap Management Co. CA acquired a new stake in Royal Caribbean Cruises in the second quarter valued at approximately $669,804,000. Jupiter Topco LLC purchased a new position in Royal Caribbean Cruises in the second quarter worth $597,350,000. Finally, Dimensional Fund Advisors LP grew its holdings in Royal Caribbean Cruises by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,957,044 shares of the company’s stock worth $538,393,000 after purchasing an additional 38,748 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Up 6.6%

NYSE RCL opened at $333.93 on Thursday. Royal Caribbean Cruises Ltd. has a 12-month low of $222.22 and a 12-month high of $356.39. The company has a fifty day simple moving average of $273.74 and a two-hundred day simple moving average of $287.36. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.69. The stock has a market cap of $89.32 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.09 and a beta of 1.88.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.38 by $0.19. Royal Caribbean Cruises had a return on equity of 43.40% and a net margin of 23.78%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the prior year, the company earned $5.75 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 17.94 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, September 17th. Royal Caribbean Cruises’s dividend payout ratio is 35.52%.

Insiders Place Their Bets

In related news, Director Maritza Montiel sold 400 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $307.21, for a total value of $122,884.00. Following the transaction, the director owned 13,202 shares in the company, valued at approximately $4,055,786.42. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RCL. Argus upped their price target on Royal Caribbean Cruises from $330.00 to $375.00 in a research report on Tuesday, July 28th. BNP Paribas Exane increased their price objective on Royal Caribbean Cruises from $357.00 to $392.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. UBS Group reissued a “buy” rating on shares of Royal Caribbean Cruises in a research report on Wednesday, September 23rd. Weiss Ratings downgraded Royal Caribbean Cruises from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Finally, JPMorgan Chase & Co. upped their target price on Royal Caribbean Cruises from $345.00 to $394.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Twenty-one investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.62.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises Ltd., doing business as Royal Caribbean Group (NYSE: RCL), is a global cruise company that operates vacation cruises and related travel experiences. Its fleet visits destinations across the Caribbean, Europe, Alaska, Asia, Australia, and other regions, with itineraries that typically include onboard entertainment, dining, accommodations, recreational activities, and shore excursions.

The company’s principal brands include Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.