Royalty Pharma PLC (NASDAQ:RPRX) Position Trimmed by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Royalty Pharma PLC by 64.8%, holding 193,591 shares valued at approximately $6.03 million after selling 356,968 shares in the first quarter.
• Royalty Pharma's recent earnings report indicated a profit of $1.06 EPS, exceeding expectations, with revenues of $839 million, and an anticipated 4.49 EPS for the current year.
• The company recently announced a quarterly dividend of $0.22 per share, yielding 2.40% annually, with the payout ratio currently at 47.57%.

Allianz Asset Management GmbH cut its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 193,591 shares of the biopharmaceutical company's stock after selling 356,968 shares during the period. Allianz Asset Management GmbH's holdings in Royalty Pharma were worth $6,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RPRX. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Royalty Pharma by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock valued at $1,238,000 after purchasing an additional 349 shares in the last quarter. National Bank of Canada FI raised its holdings in Royalty Pharma by 21.8% in 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 during the last quarter. Sherbrooke Park Advisers LLC raised its holdings in shares of Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after purchasing an additional 380 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew 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 valued at $30,000 after buying an additional 414 shares during the period. Finally, Allworth Financial LP grew its position in Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 452 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Performance

RPRX traded up $0.39 during trading on Monday, hitting $37.06. The stock had a trading volume of 2,645,701 shares, compared to its average volume of 2,840,526. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $37.21. The firm has a market capitalization of $20.84 billion, a P/E ratio of 20.03, a PEG ratio of 2.44 and a beta of 0.50. The company's 50-day moving average price is $34.86 and its 200 day moving average price is $33.18.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. On average, equities research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, August 15th. Royalty Pharma's payout ratio is 47.57%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RPRX shares. Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Morgan Stanley increased their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Citigroup raised their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $49.00.

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.