Cullen Frost Bankers Inc. Has $7.72 Million Stock Holdings in Royalty Pharma PLC (NASDAQ:RPRX)

Cullen Frost Bankers Inc. increased its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 413,171.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 247,963 shares of the biopharmaceutical company's stock after purchasing an additional 247,903 shares during the period. Cullen Frost Bankers Inc.'s holdings in Royalty Pharma were worth $7,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RPRX. Proficio Capital Partners LLC purchased a new stake in Royalty Pharma during the 4th quarter worth $786,000. PNC Financial Services Group Inc. boosted its position in Royalty Pharma by 53.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,806 shares of the biopharmaceutical company's stock valued at $301,000 after buying an additional 4,129 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Royalty Pharma by 24.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,112 shares of the biopharmaceutical company's stock valued at $105,000 after buying an additional 818 shares during the last quarter. Corient Private Wealth LLC boosted its position in Royalty Pharma by 86.0% in the 4th quarter. Corient Private Wealth LLC now owns 46,249 shares of the biopharmaceutical company's stock valued at $1,180,000 after buying an additional 21,383 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Royalty Pharma by 38.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 475,825 shares of the biopharmaceutical company's stock valued at $12,139,000 after buying an additional 132,675 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RPRX shares. Morgan Stanley set a $54.00 target price on shares of Royalty Pharma and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Royalty Pharma presently has a consensus rating of "Buy" and a consensus target price of $48.33.

Royalty Pharma Stock Up 0.3%

Shares of Royalty Pharma stock traded up $0.12 on Friday, hitting $35.59. 2,020,693 shares of the company traded hands, compared to its average volume of 3,707,857. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $36.89. The company has a 50-day moving average price of $34.49 and a 200 day moving average price of $32.67. The company has a market cap of $20.01 billion, a PE ratio of 19.24, a PEG ratio of 2.36 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The firm had revenue of $839.00 million during the quarter, compared to analysts' expectations of $724.69 million. Sell-side analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 2.47%. Royalty Pharma's payout ratio is currently 47.57%.

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.