KBC Group NV decreased its position in Royalty Pharma PLC (NASDAQ:RPRX – Free Report) by 61.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,239 shares of the biopharmaceutical company’s stock after selling 100,322 shares during the period. KBC Group NV’s holdings in Royalty Pharma were worth $3,034,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its position in Royalty Pharma by 25.2% in the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after acquiring an additional 11,110,115 shares during the period. Capital International Investors lifted its stake in shares of Royalty Pharma by 14.3% in the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after purchasing an additional 3,891,615 shares during the last quarter. State Street Corp lifted its stake in shares of Royalty Pharma by 3.7% in the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock valued at $411,502,000 after purchasing an additional 376,888 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Royalty Pharma by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after purchasing an additional 102,430 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Royalty Pharma by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock worth $197,331,000 after purchasing an additional 449,498 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.
Royalty Pharma Price Performance
RPRX stock opened at $58.83 on Friday. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $59.72. The business’s 50-day moving average is $55.60 and its two-hundred day moving average is $49.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market capitalization of $33.88 billion, a P/E ratio of 40.02, a P/E/G ratio of 10.45 and a beta of 0.43.
Royalty Pharma Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio is presently 63.95%.
Insiders Place Their Bets
In related news, EVP Christopher Hite sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the sale, the executive vice president owned 559,399 shares in the company, valued at $30,431,305.60. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares of the company’s stock, valued at $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 427,800 shares of company stock worth $23,333,723. Insiders own 18.84% of the company’s stock.
Analyst Ratings Changes
RPRX has been the topic of a number of recent analyst reports. TD Cowen upped their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Citigroup increased their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley boosted their target price on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Finally, UBS Group raised their price target on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $56.57.
View Our Latest Stock Analysis on Royalty Pharma
About Royalty Pharma
Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.
The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.
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