Allianz Asset Management GmbH Increases Stock Position in Royalty Pharma PLC $RPRX

Key Points

• Allianz Asset Management GmbH increased its stock position in Royalty Pharma PLC by 87.3% during the second quarter, now owning 362,546 shares valued at approximately $13.06 million.
• Royalty Pharma recently declared a quarterly dividend of $0.22 per share, with an annualized yield of 2.4%, to be paid on December 10th.
• The stock has seen a one-year price range of $24.05 to $38.00, and currently holds a market capitalization of $21.36 billion with a P/E ratio of 21.17.

Allianz Asset Management GmbH grew its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 87.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 362,546 shares of the biopharmaceutical company's stock after buying an additional 168,955 shares during the period. Allianz Asset Management GmbH owned 0.06% of Royalty Pharma worth $13,063,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. TD Asset Management Inc grew its stake in shares of Royalty Pharma by 23.9% during the 2nd quarter. TD Asset Management Inc now owns 103,066 shares of the biopharmaceutical company's stock valued at $3,713,000 after buying an additional 19,855 shares during the period. Morningstar Investment Management LLC purchased a new stake in shares of Royalty Pharma during the 2nd quarter valued at $299,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Royalty Pharma during the 2nd quarter valued at $233,000. Inspire Investing LLC grew its stake in shares of Royalty Pharma by 226.1% during the 2nd quarter. Inspire Investing LLC now owns 32,357 shares of the biopharmaceutical company's stock valued at $1,166,000 after buying an additional 22,436 shares during the period. Finally, Aberdeen Group plc boosted its position in Royalty Pharma by 7.0% during the 2nd quarter. Aberdeen Group plc now owns 228,746 shares of the biopharmaceutical company's stock worth $8,212,000 after purchasing an additional 14,886 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $36.63 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $38.00. The company's 50-day simple moving average is $36.06 and its 200-day simple moving average is $34.88. The stock has a market capitalization of $21.36 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 2.04 and a beta of 0.60.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The business had revenue of $578.67 million for the quarter, compared to analysts' expectations of $750.06 million. Equities analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma's dividend payout ratio (DPR) is presently 50.87%.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of research reports. Citigroup upped 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. Morgan Stanley decreased their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Friday, October 10th. The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They set a "buy" rating and a $42.00 price target for the company. Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Weiss Ratings raised shares of Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Royalty Pharma has an average rating of "Buy" and a consensus target price of $46.00.

Royalty Pharma 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.

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