Russell Investments Group Ltd. Purchases 54,907 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Russell Investments Group Ltd. raised its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 322,967 shares of the biopharmaceutical company's stock after buying an additional 54,907 shares during the quarter. Russell Investments Group Ltd. owned about 0.05% of Royalty Pharma worth $9,055,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aubrey Capital Management Ltd acquired a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $926,000. Truist Financial Corp acquired a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $443,000. Supplemental Annuity Collective Trust of NJ acquired a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $478,000. Stevens Capital Management LP acquired a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $375,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $674,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Royalty Pharma from $56.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, February 20th. JPMorgan Chase & Co. reduced their price target on Royalty Pharma from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Tuesday, February 20th. Bank of America reduced their price target on Royalty Pharma from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, April 12th. Finally, StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $46.75.

Royalty Pharma Stock Down 0.7 %

Shares of Royalty Pharma stock traded down $0.21 on Tuesday, reaching $28.28. 2,949,020 shares of the company were exchanged, compared to its average volume of 2,700,509. Royalty Pharma plc has a one year low of $25.92 and a one year high of $35.70. The company has a market capitalization of $16.90 billion, a price-to-earnings ratio of 14.96 and a beta of 0.47. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $29.31 and a 200 day moving average of $28.59.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.12. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. The company had revenue of $736.00 million for the quarter, compared to analysts' expectations of $702.90 million. On average, equities research analysts forecast that Royalty Pharma plc will post 3.95 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, May 16th. Royalty Pharma's dividend payout ratio is currently 44.44%.

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.