The Manufacturers Life Insurance Company increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.7% during the fourth quarter. The company owned 145,848 shares of Royal Caribbean Cruises stock, valued at $33,646,000, as of its most recent SEC filing. This represents approximately 0.05% of the company’s total stock.
Other institutional investors have also adjusted their positions in Royal Caribbean Cruises. Johnson Financial Group Inc. increased its stake by 65.2%, while Coldstream Capital Management Inc. raised its holdings by 1.7%. Three Seasons Wealth LLC established a new position in the company, worth $1,848,000. Integrated Wealth Concepts LLC boosted its stake by 50.7%, and Adage Capital Partners GP L.L.C. increased its holdings by 3.5%.
In total, institutional investors own 87.53% of Royal Caribbean Cruises’ stock. Recent insider transactions include sales by Laura H. Bethge and CFO Naftali Holtz, who collectively sold 31,992 shares. Insiders currently own 7.95% of the company’s stock.
Royal Caribbean Cruises’ stock performance has been notable, with a 12-month low of $130.08 and a high of $277.08. The company reported earnings per share of $2.71 for the quarter, exceeding analyst expectations. Revenue was $4 billion, slightly below the consensus estimate of $4.02 billion.
The company’s Board of Directors recently initiated a stock buyback program, authorizing the purchase of up to $1 billion in outstanding shares. Royal Caribbean Cruises also increased its quarterly dividend to $0.75 per share, representing a 1.36% dividend yield.
Analyst ratings for Royal Caribbean Cruises include a ‘Moderate Buy’ consensus, with a target price of $272.55. Several research firms have adjusted their price targets and ratings for the stock.
