Royalty Pharma PLC (NASDAQ:RPRX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 5.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,970 shares of the biopharmaceutical company’s stock after selling 1,146 shares during the quarter. Principal Financial Group Inc.’s holdings in Royalty Pharma were worth $591,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RPRX. Louisbourg Investments Inc. purchased a new position in Royalty Pharma in the 1st quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB increased its position in Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 414 shares in the last quarter. Westpac Banking Corp purchased a new position in Royalty Pharma during the fourth quarter worth $53,000. National Bank of Canada FI increased its position in Royalty Pharma by 21.8% during the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 371 shares in the last quarter. Finally, Transce3nd LLC purchased a new position in Royalty Pharma during the fourth quarter worth $61,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

RPRX stock opened at $35.59 on Monday. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $36.89. The stock’s fifty day simple moving average is $34.49 and its 200-day simple moving average is $32.77. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $20.01 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.37 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. The business had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $724.69 million. Equities research analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.47%. Royalty Pharma’s dividend payout ratio (DPR) is 47.57%.

Analyst Ratings Changes

RPRX has been the subject of several recent research reports. Wall Street Zen downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. Citigroup reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. Finally, Morgan Stanley set a $54.00 price target on Royalty Pharma and gave the stock an “overweight” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $48.33.

Royalty Pharma Company 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.