Principal Financial Group Inc. Lowers Position in Royal Caribbean Group (NYSE:RCL)

Principal Financial Group Inc. cut its stake in Royal Caribbean Group (NYSE:RCL) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 250,411 shares of the company’s stock after selling 6,566 shares during the quarter. Principal Financial Group Inc.’s holdings in Royal Caribbean Group were worth $16,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. tru Independence LLC lifted its holdings in Royal Caribbean Group by 400.0% in the second quarter. tru Independence LLC now owns 500 shares of the company’s stock worth $25,000 after buying an additional 400 shares during the period. Berman Capital Advisors LLC lifted its holdings in Royal Caribbean Group by 74.5% in the second quarter. Berman Capital Advisors LLC now owns 555 shares of the company’s stock worth $27,000 after buying an additional 237 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Royal Caribbean Group by 65.8% in the second quarter. Orion Portfolio Solutions LLC now owns 668 shares of the company’s stock worth $34,000 after buying an additional 265 shares during the period. CX Institutional lifted its holdings in Royal Caribbean Group by 290.6% in the third quarter. CX Institutional now owns 539 shares of the company’s stock worth $35,000 after buying an additional 401 shares during the period. Finally, Hall Laurie J Trustee purchased a new stake in Royal Caribbean Group in the third quarter worth about $42,000. Institutional investors and hedge funds own 60.43% of the company’s stock.

In other news, major shareholder Wilhelmsen A. S. A sold 600,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $63.67, for a total transaction of $38,202,000.00. Following the completion of the sale, the insider now owns 19,887,361 shares of the company’s stock, valued at approximately $1,266,228,274.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 1,400,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $63.36, for a total transaction of $88,704,000.00. Following the sale, the director now directly owns 12,151 shares of the company’s stock, valued at approximately $769,887.36. The disclosure for this sale can be found here. Insiders own 13.09% of the company’s stock.

NYSE:RCL opened at $72.58 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 1.98. Royal Caribbean Group has a 12 month low of $19.25 and a 12 month high of $135.32. The company has a market cap of $16.28 billion, a PE ratio of -7.85 and a beta of 2.67. The company has a 50 day simple moving average of $64.15 and a two-hundred day simple moving average of $57.75.

Royal Caribbean Group (NYSE:RCL) last posted its earnings results on Thursday, October 29th. The company reported ($5.62) EPS for the quarter, missing analysts’ consensus estimates of ($4.92) by ($0.70). Royal Caribbean Group had a negative return on equity of 3.68% and a negative net margin of 24.36%. The company had revenue of ($33.69) million during the quarter, compared to the consensus estimate of $8.71 million. During the same period last year, the firm posted $4.27 EPS. The company’s revenue for the quarter was down 101.1% on a year-over-year basis. Research analysts forecast that Royal Caribbean Group will post -17.25 earnings per share for the current year.

Several equities analysts have recently issued reports on RCL shares. JPMorgan Chase & Co. lifted their target price on shares of Royal Caribbean Group from $67.00 to $79.00 in a report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Royal Caribbean Group from $43.00 to $46.00 and gave the company a “hold” rating in a report on Friday, October 30th. ValuEngine upgraded shares of Royal Caribbean Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 3rd. Berenberg Bank lifted their target price on shares of Royal Caribbean Group from $45.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, October 15th. Finally, Credit Suisse Group lifted their target price on shares of Royal Caribbean Group from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.67.

Royal Caribbean Group Profile

Royal Caribbean Group operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 19 nights.

Further Reading: Understanding Specialty Certificates of Deposit

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

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