Lazard Asset Management LLC Makes New Investment in Royalty Pharma plc (NASDAQ:RPRX)

Lazard Asset Management LLC purchased a new position in shares of Royalty Pharma plc (NASDAQ:RPRXGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,401 shares of the biopharmaceutical company’s stock, valued at approximately $1,362,000.

Other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Royalty Pharma by 1,621.2% in the second quarter. Russell Investments Group Ltd. now owns 336,667 shares of the biopharmaceutical company’s stock valued at $14,158,000 after purchasing an additional 317,107 shares during the period. TD Asset Management Inc. raised its position in shares of Royalty Pharma by 22.5% in the second quarter. TD Asset Management Inc. now owns 205,777 shares of the biopharmaceutical company’s stock valued at $8,651,000 after purchasing an additional 37,742 shares during the period. Torray LLC raised its position in shares of Royalty Pharma by 5.3% in the second quarter. Torray LLC now owns 139,012 shares of the biopharmaceutical company’s stock valued at $5,844,000 after purchasing an additional 6,942 shares during the period. Formidable Asset Management LLC raised its position in shares of Royalty Pharma by 81.5% in the first quarter. Formidable Asset Management LLC now owns 18,592 shares of the biopharmaceutical company’s stock valued at $724,000 after purchasing an additional 8,350 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Royalty Pharma by 1.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 284,235 shares of the biopharmaceutical company’s stock valued at $11,074,000 after purchasing an additional 4,772 shares during the period. 54.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Royalty Pharma news, major shareholder 1978 Sicaf Sif S.A. – Gg St Gg sold 1,994 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $44.00, for a total transaction of $87,736.00. Following the sale, the insider now directly owns 22,924,176 shares in the company, valued at $1,008,663,744. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP George W. Lloyd sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $43.85, for a total value of $2,192,500.00. Following the sale, the executive vice president now directly owns 165,000 shares in the company, valued at approximately $7,235,250. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 1978 Sicaf Sif S.A. – Gg St Gg sold 1,994 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $44.00, for a total transaction of $87,736.00. Following the completion of the sale, the insider now owns 22,924,176 shares in the company, valued at $1,008,663,744. The disclosure for this sale can be found here. Insiders have sold 1,746,486 shares of company stock worth $73,284,186 over the last ninety days. Corporate insiders own 24.86% of the company’s stock.

Royalty Pharma Trading Down 0.1 %

Shares of Royalty Pharma stock opened at $42.33 on Friday. The company has a market capitalization of $25.70 billion, a price-to-earnings ratio of 50.39, a PEG ratio of 1.04 and a beta of 0.34. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. Royalty Pharma plc has a 12-month low of $36.15 and a 12-month high of $44.75. The firm’s 50-day moving average price is $41.74 and its two-hundred day moving average price is $41.81.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 18th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.76 dividend on an annualized basis and a yield of 1.80%. Royalty Pharma’s payout ratio is 90.48%.

Analysts Set New Price Targets

RPRX has been the topic of several research analyst reports. Morgan Stanley increased their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, November 9th. Citigroup raised their price target on shares of Royalty Pharma from $50.00 to $60.00 in a research report on Thursday, July 28th. StockNews.com began coverage on shares of Royalty Pharma in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Royalty Pharma from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

Royalty Pharma Company Profile

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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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Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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