Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Royalty Pharma plc (NASDAQ:RPRX – Free Report) by 11.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 119,312 shares of the biopharmaceutical company’s stock after buying an additional 12,128 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Royalty Pharma were worth $4,299,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in RPRX. Envestnet Asset Management Inc. boosted its holdings in Royalty Pharma by 34.3% in the first quarter. Envestnet Asset Management Inc. now owns 8,524 shares of the biopharmaceutical company’s stock valued at $332,000 after purchasing an additional 2,176 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in Royalty Pharma by 9.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,265 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 366 shares in the last quarter. US Bancorp DE boosted its holdings in Royalty Pharma by 48.1% in the first quarter. US Bancorp DE now owns 11,105 shares of the biopharmaceutical company’s stock valued at $433,000 after purchasing an additional 3,608 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Royalty Pharma by 54.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 1,208 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Royalty Pharma by 644.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,759 shares of the biopharmaceutical company’s stock valued at $224,000 after acquiring an additional 4,985 shares during the period. 48.06% of the stock is owned by institutional investors and hedge funds.
Royalty Pharma Stock Down 0.3 %
RPRX opened at $30.47 on Friday. Royalty Pharma plc has a one year low of $29.20 and a one year high of $44.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.36 and a current ratio of 2.52. The stock’s fifty day moving average is $31.21 and its 200-day moving average is $34.14. The company has a market capitalization of $18.50 billion, a PE ratio of 70.86, a P/E/G ratio of 1.56 and a beta of 0.38.
Royalty Pharma Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. Royalty Pharma’s dividend payout ratio (DPR) is presently 186.05%.
Analyst Ratings Changes
Several research analysts have issued reports on RPRX shares. Morgan Stanley increased their price objective on Royalty Pharma from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com lowered Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, TheStreet upgraded Royalty Pharma from a “d+” rating to a “c” rating in a report on Thursday, June 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.25.
Read Our Latest Research Report on RPRX
Insider Transactions at Royalty Pharma
In other Royalty Pharma news, CFO Terrance P. Coyne sold 37,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $31.07, for a total value of $1,165,125.00. Following the completion of the transaction, the chief financial officer now owns 902,500 shares of the company’s stock, valued at approximately $28,040,675. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Royalty Pharma news, EVP George W. Lloyd sold 93,907 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $33.64, for a total value of $3,159,031.48. Following the transaction, the executive vice president now directly owns 120,000 shares in the company, valued at approximately $4,036,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Terrance P. Coyne sold 37,500 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $31.07, for a total value of $1,165,125.00. Following the completion of the transaction, the chief financial officer now directly owns 902,500 shares in the company, valued at approximately $28,040,675. The disclosure for this sale can be found here. In the last quarter, insiders purchased 485,388 shares of company stock worth $15,543,025 and sold 1,938,122 shares worth $63,555,628. 18.72% of the stock is currently owned by corporate insiders.
About Royalty Pharma
Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.
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