Russell Investments Group Ltd. Grows Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Russell Investments Group Ltd. lifted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 20.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,967 shares of the biopharmaceutical company’s stock after purchasing an additional 54,907 shares during the quarter. Russell Investments Group Ltd. owned about 0.05% of Royalty Pharma worth $9,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its holdings in Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 451 shares during the period. EverSource Wealth Advisors LLC raised its stake in Royalty Pharma by 112.0% during the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 531 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Royalty Pharma by 485.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 1,999 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Royalty Pharma during the 4th quarter valued at $110,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Royalty Pharma by 10.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 536 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Bank of America reduced their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $46.75.

Royalty Pharma Trading Up 0.3 %

NASDAQ RPRX opened at $28.49 on Tuesday. The company’s fifty day simple moving average is $29.31 and its 200-day simple moving average is $28.59. The stock has a market cap of $17.02 billion, a P/E ratio of 15.07 and a beta of 0.47. Royalty Pharma plc has a 52 week low of $25.92 and a 52 week high of $35.70. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The company had revenue of $736.00 million during the quarter, compared to analysts’ expectations of $702.90 million. Equities research analysts predict that Royalty Pharma plc will post 3.95 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 2.95%. Royalty Pharma’s dividend payout ratio (DPR) is presently 44.44%.

Royalty Pharma Profile

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.