Cigna Investments Inc. New increased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 12.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,802 shares of the company’s stock after buying an additional 884 shares during the period. Cigna Investments Inc. New’s holdings in Royal Caribbean Cruises were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCL. Advisors Preferred LLC bought a new position in shares of Royal Caribbean Cruises during the first quarter valued at about $103,000. NEXT Financial Group Inc raised its stake in Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock valued at $107,000 after buying an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Royal Caribbean Cruises during the first quarter valued at about $119,000. Whittier Trust Co. raised its stake in Royal Caribbean Cruises by 24.4% in the first quarter. Whittier Trust Co. now owns 1,266 shares of the company’s stock valued at $124,000 after buying an additional 248 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Royal Caribbean Cruises by 447.1% in the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock valued at $174,000 after buying an additional 1,453 shares during the last quarter. Institutional investors own 71.67% of the company’s stock.

Royal Caribbean Cruises Ltd. (RCL) opened at 117.22 on Friday. The company has a market cap of $25.22 billion, a P/E ratio of 16.45 and a beta of 1.06. The firm’s 50 day moving average is $113.22 and its 200-day moving average is $104.26. Royal Caribbean Cruises Ltd. has a 52 week low of $65.10 and a 52 week high of $121.47.

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

Royal Caribbean Cruises announced that its Board of Directors has authorized a stock repurchase program on Friday, April 28th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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Several research firms have issued reports on RCL. Nomura upped their price target on shares of Royal Caribbean Cruises from $131.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “neutral” rating and upped their price target for the company from $99.00 to $115.00 in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a research report on Friday, August 4th. Deutsche Bank AG cut their price target on shares of Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, May 2nd. Finally, Wedbush restated an “outperform” rating and set a $129.00 price target (up from $125.00) on shares of Royal Caribbean Cruises in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $117.23.

In other news, Director Bernt Reitan sold 4,793 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $117.22, for a total value of $561,835.46. Following the completion of the sale, the director now owns 7,862 shares of the company’s stock, valued at approximately $921,583.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam M. Goldstein sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $118.21, for a total transaction of $14,185,200.00. Following the completion of the sale, the chief operating officer now directly owns 191,252 shares of the company’s stock, valued at approximately $22,607,898.92. The disclosure for this sale can be found here. Insiders sold a total of 452,499 shares of company stock valued at $52,583,811 in the last ninety days. Corporate insiders own 15.30% of the company’s stock.

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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