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LONDON—The Duke and Duchess of Cambridge named their new daughter Charlotte Elizabeth Diana, according to Kensington Palace.

Britain’s newest princess, who is formally known as Her Royal Highness Princess Charlotte of Cambridge, is fourth in line to the throne. She was born Saturday morning at St. Mary’s Hospital in central London and weighed 8 pounds and 3 ounces.

On Sunday, Princess Charlotte met her grandfather, the Prince of Wales, and the Duchess of Cornwall. She also met the Duchess of Cambridge’s mother and father, and her aunt, Pippa Middleton.

Prince Harry, who is currently in Australia, said in a statement: “She is absolutely beautiful. I can’t wait to meet her.”

The royal couple posed for photographs outside the hospital on Saturday evening in London. Hundreds of well-wishers gathered outside to catch a glimpse of the new princess and to cheer for the duke and duchess.

Princess Charlotte’s older brother, Prince George, turns two in July. He is third in line to the throne, after his father, Prince William, and his grandfather, Prince Charles.

Prince William’s mother, Princess Diana, died in a car crash in Paris in 1997. Princess Charlotte’s great-grandmother is Queen Elizabeth II, who has reigned since 1952.

“The name speaks for itself,” a Kensington Palace spokeswoman said. “It’s what the couple have chosen.”— wsj.com.w