Manufacturers Life reduces Royal Caribbean holdings by 5.6%
An account of an SEC filing showed the insurer sold 7,353 shares, while Royal Caribbean reported quarterly earnings and revenue above estimates.
The Manufacturers Life Insurance Company reduced its Royal Caribbean Cruises Ltd. holdings by 5.6% in the second quarter, according to an account of its most recent filing with the Securities and Exchange Commission. The insurer sold 7,353 shares and retained 123,128 shares, leaving a position valued at $39,097,000.
Hedge funds and other institutional investors owned 87.53% of Royal Caribbean stock, according to the reported ownership data.
Royal Caribbean reported quarterly earnings per share of $4.21, exceeding the consensus estimate of $3.98. Revenue totaled $4.83 billion, compared with analyst estimates of $4.82 billion.
The company set fiscal 2026 earnings guidance at 17.730-17.870 per share and third-quarter 2026 guidance at 6.260-6.360 per share.
Royal Caribbean also declared a quarterly dividend of $1.50 per share, payable on Thursday, October 8th, to stockholders of record on Thursday, September 17th. Compiled analyst data gave the company a Moderate Buy consensus rating and a consensus target price of $353.40.
