Ameriprise Financial Inc. Reduces Position in Royalty Pharma plc (NASDAQ:RPRX)

Ameriprise Financial Inc. lessened its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 49.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,232 shares of the biopharmaceutical company’s stock after selling 23,786 shares during the period. Ameriprise Financial Inc.’s holdings in Royalty Pharma were worth $618,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RPRX. ArrowMark Colorado Holdings LLC boosted its holdings in Royalty Pharma by 442.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 389,448 shares of the biopharmaceutical company’s stock valued at $9,935,000 after purchasing an additional 317,698 shares during the last quarter. AXA S.A. boosted its holdings in Royalty Pharma by 761.9% in the 4th quarter. AXA S.A. now owns 156,131 shares of the biopharmaceutical company’s stock valued at $3,983,000 after purchasing an additional 138,017 shares during the last quarter. AlTi Global Inc. acquired a new position in Royalty Pharma in the 4th quarter valued at about $9,887,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in Royalty Pharma in the 4th quarter valued at about $18,183,000. Finally, Regal Partners Ltd boosted its holdings in Royalty Pharma by 21.9% in the 4th quarter. Regal Partners Ltd now owns 1,435,956 shares of the biopharmaceutical company’s stock valued at $36,631,000 after purchasing an additional 258,355 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RPRX. Morgan Stanley began coverage on shares of Royalty Pharma in a report on Friday, May 16th. They issued an “overweight” rating and a $51.00 target price on the stock. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a report on Friday, March 28th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $47.33.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $33.29 on Wednesday. The firm’s 50 day moving average price is $32.37 and its 200-day moving average price is $30.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.32. The firm has a market cap of $18.72 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.31 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. As a group, equities research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, May 16th. Royalty Pharma’s payout ratio is currently 47.57%.

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.