Dai ichi Life Insurance Company Ltd Has $4.79 Million Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Dai ichi Life Insurance Company Ltd grew its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 79.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,270 shares of the biopharmaceutical company’s stock after acquiring an additional 75,204 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Royalty Pharma were worth $4,789,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Swedbank AB lifted its position in Royalty Pharma by 2.0% during the third quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock worth $311,964,000 after acquiring an additional 213,900 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock worth $84,915,000 after acquiring an additional 1,103,341 shares during the last quarter. New South Capital Management Inc. lifted its position in Royalty Pharma by 5.0% during the third quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company’s stock worth $69,774,000 after acquiring an additional 117,394 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Royalty Pharma by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock worth $40,428,000 after acquiring an additional 86,248 shares during the last quarter. Finally, Regal Partners Ltd lifted its position in Royalty Pharma by 22.7% during the second quarter. Regal Partners Ltd now owns 1,177,601 shares of the biopharmaceutical company’s stock worth $31,053,000 after acquiring an additional 217,774 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Citigroup dropped their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, The Goldman Sachs Group lifted their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Royalty Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX opened at $26.29 on Wednesday. The company’s 50 day simple moving average is $27.22 and its 200 day simple moving average is $27.35. The stock has a market capitalization of $15.49 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 4.65 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. Royalty Pharma plc has a 1 year low of $25.10 and a 1 year high of $31.66.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.21 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.20%. Royalty Pharma’s dividend payout ratio (DPR) is 43.52%.

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.