Dai ichi Life Insurance Company Ltd Has $6.19 Million Holdings in Royalty Pharma PLC $RPRX

Dai ichi Life Insurance Company Ltd cut its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,074 shares of the biopharmaceutical company’s stock after selling 24,173 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Royalty Pharma were worth $6,192,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RPRX. Morgan Stanley raised its position in Royalty Pharma by 25.2% in the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock valued at $2,135,790,000 after purchasing an additional 11,110,115 shares during the last quarter. Capital International Investors raised its holdings in shares of Royalty Pharma by 14.3% in the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after buying an additional 3,891,615 shares during the last quarter. Norges Bank acquired a new position in Royalty Pharma during the 4th quarter worth about $131,923,000. Qube Research & Technologies Ltd lifted its position in Royalty Pharma by 737.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock worth $87,557,000 after buying an additional 2,185,366 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Royalty Pharma by 379.2% during the 3rd quarter. Millennium Management LLC now owns 2,235,133 shares of the biopharmaceutical company’s stock worth $78,855,000 after acquiring an additional 1,768,702 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 0.3%

Shares of NASDAQ:RPRX opened at $58.83 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market cap of $33.88 billion, a price-to-earnings ratio of 40.02, a P/E/G ratio of 10.42 and a beta of 0.43. The company has a 50 day moving average of $55.60 and a 200-day moving average of $49.21. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $59.72.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The business had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. On average, sell-side analysts forecast that Royalty Pharma PLC will post 5.18 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Insider Buying and Selling

In other news, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares in the company, valued at approximately $10,165,559. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total value of $5,652,000.00. Following the completion of the sale, the executive vice president directly owned 459,399 shares of the company’s stock, valued at approximately $25,965,231.48. This trade represents a 17.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 427,800 shares of company stock valued at $23,333,723 in the last three months. 18.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RPRX shares. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Citigroup upped their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. UBS Group raised their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Morgan Stanley upped their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Finally, TD Cowen increased their price objective on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $56.57.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.