Principal Financial Group Inc. Has $956,000 Position in Royalty Pharma plc (NASDAQ:RPRX)

Principal Financial Group Inc. increased its stake in Royalty Pharma plc (NASDAQ:RPRXFree Report) by 34.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,485 shares of the biopharmaceutical company’s stock after purchasing an additional 8,086 shares during the period. Principal Financial Group Inc.’s holdings in Royalty Pharma were worth $956,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Royalty Pharma by 76.7% during the fourth quarter. Allworth Financial LP now owns 1,684 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 731 shares during the period. GAMMA Investing LLC lifted its position in Royalty Pharma by 172.5% during the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 1,037 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Royalty Pharma by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 802 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Royalty Pharma by 485.2% during the 4th quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 1,999 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Royalty Pharma by 62.7% during the fourth quarter. Parallel Advisors LLC now owns 2,882 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 1,111 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analyst Ratings Changes

RPRX has been the subject of a number of analyst reports. StockNews.com cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Monday, June 3rd. Finally, Bank of America cut their target price on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Get Our Latest Research Report on Royalty Pharma

Royalty Pharma Stock Performance

RPRX stock opened at $25.67 on Friday. Royalty Pharma plc has a 1-year low of $25.43 and a 1-year high of $31.66. The business’s 50-day moving average price is $27.16 and its two-hundred day moving average price is $28.42. The firm has a market cap of $15.34 billion, a PE ratio of 19.16, a P/E/G ratio of 3.38 and a beta of 0.46. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 0.62.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. The business had revenue of $568.00 million during the quarter, compared to analyst estimates of $671.45 million. During the same period in the previous year, the firm earned $1.60 EPS. As a group, research analysts forecast that Royalty Pharma plc will post 4.03 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were given a $0.21 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 3.27%. Royalty Pharma’s dividend payout ratio is currently 62.69%.

Royalty Pharma Company Profile

(Free Report)

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.

See Also

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

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