Russell Investments Group Ltd. Purchases 449,551 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Russell Investments Group Ltd. increased its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 32.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,855,791 shares of the biopharmaceutical company’s stock after purchasing an additional 449,551 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.31% of Royalty Pharma worth $47,319,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Keene & Associates Inc. increased its holdings in shares of Royalty Pharma by 1.9% during the fourth quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company’s stock worth $495,000 after buying an additional 370 shares in the last quarter. National Bank of Canada FI raised its position in Royalty Pharma by 21.8% in the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 371 shares during the last quarter. Blue Trust Inc. boosted its stake in Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 376 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Royalty Pharma by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company’s stock worth $1,068,000 after purchasing an additional 388 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Royalty Pharma by 0.5% during the fourth quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company’s stock worth $2,822,000 after purchasing an additional 537 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RPRX has been the topic of several research reports. TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $41.60.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX opened at $31.11 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20. The stock has a market capitalization of $17.93 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.31 and a beta of 0.50. The business has a 50-day moving average price of $32.52 and a two-hundred day moving average price of $28.97.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. Equities analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were given a $0.22 dividend. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, February 21st. Royalty Pharma’s dividend payout ratio (DPR) is currently 60.69%.

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.