MML Investors Services LLC Acquires Shares of 46,800 Royalty Pharma plc (NASDAQ:RPRX)

MML Investors Services LLC bought a new position in Royalty Pharma plc (NASDAQ:RPRX) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 46,800 shares of the biopharmaceutical company’s stock, valued at approximately $1,194,000.

Several other hedge funds have also recently made changes to their positions in RPRX. Franklin Resources Inc. boosted its stake in Royalty Pharma by 5.0% during the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after buying an additional 70,130 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Royalty Pharma by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company’s stock worth $79,888,000 after purchasing an additional 130,025 shares during the period. Pallas Capital Advisors LLC bought a new position in Royalty Pharma during the 4th quarter valued at about $2,355,000. Jupiter Asset Management Ltd. purchased a new stake in Royalty Pharma in the 4th quarter worth about $4,950,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Royalty Pharma by 303.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company’s stock worth $13,926,000 after purchasing an additional 406,123 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $32.48 on Friday. The company has a market capitalization of $18.72 billion, a P/E ratio of 22.40, a P/E/G ratio of 2.31 and a beta of 0.50. The company’s 50-day simple moving average is $32.47 and its two-hundred day simple moving average is $29.56. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, equities analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $0.22 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.71%. Royalty Pharma’s dividend payout ratio is currently 60.69%.

Wall Street Analyst Weigh In

Separately, Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $42.50.

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.