Cigna Investments Inc. New boosted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 12.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RCL. Eqis Capital Management Inc. boosted its position in Royal Caribbean Cruises by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 2,370 shares of the company’s stock valued at $259,000 after buying an additional 8 shares in the last quarter. Granahan Investment Management Inc. MA boosted its position in Royal Caribbean Cruises by 0.4% in the first quarter. Granahan Investment Management Inc. MA now owns 2,882 shares of the company’s stock valued at $283,000 after buying an additional 11 shares in the last quarter. Cleararc Capital Inc. boosted its position in Royal Caribbean Cruises by 0.6% in the first quarter. Cleararc Capital Inc. now owns 4,095 shares of the company’s stock valued at $402,000 after buying an additional 25 shares in the last quarter. BKD Wealth Advisors LLC boosted its position in Royal Caribbean Cruises by 1.1% in the first quarter. BKD Wealth Advisors LLC now owns 3,944 shares of the company’s stock valued at $387,000 after buying an additional 42 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Royal Caribbean Cruises by 0.3% in the second quarter. CIBC Asset Management Inc now owns 17,863 shares of the company’s stock valued at $1,951,000 after buying an additional 58 shares in the last quarter. 71.67% of the stock is owned by institutional investors.

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

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts forecast 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 initiated a share repurchase plan on Friday, April 28th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: This piece was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://theolympiareport.com/2017/08/12/cigna-investments-inc-new-purchases-884-shares-of-royal-caribbean-cruises-ltd-nysercl.html.

Several research analysts have recently weighed in on the company. Deutsche Bank AG reduced their price objective on 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. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Nomura upped their price objective on Royal Caribbean Cruises from $131.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Wedbush upped their price objective on Royal Caribbean Cruises from $125.00 to $129.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Buckingham Research upped their price objective on Royal Caribbean Cruises to $149.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $117.23.

In related news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $107.77, for a total value of $2,155,400.00. Following the transaction, the chief executive officer now owns 1,007,741 shares in the company, valued at $108,604,247.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the director now owns 7,862 shares in the company, valued at approximately $921,583.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 452,499 shares of company stock worth $52,583,811. 15.30% of the stock is owned by company insiders.

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).

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL).

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

Receive News & Ratings for Royal Caribbean Cruises Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.