Prudential PLC Has $3.05 Million Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Prudential PLC increased its stake in Royalty Pharma plc (NASDAQ:RPRX) by 220.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,443 shares of the biopharmaceutical company’s stock after acquiring an additional 82,125 shares during the quarter. Prudential PLC’s holdings in Royalty Pharma were worth $3,047,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Keene & Associates Inc. lifted its position in shares of Royalty Pharma by 1.9% in the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company’s stock worth $495,000 after purchasing an additional 370 shares during the period. National Bank of Canada FI raised its stake in Royalty Pharma by 21.8% during 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. Blue Trust Inc. lifted its holdings in Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 376 shares during the period. Sanctuary Advisors LLC grew its holdings in Royalty Pharma by 0.9% during the 4th quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company’s stock worth $1,068,000 after acquiring an additional 388 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Royalty Pharma by 0.5% in the 4th quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company’s stock worth $2,822,000 after acquiring an additional 537 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on RPRX. Citigroup restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royalty Pharma currently has a consensus rating of “Buy” and an average price target of $41.60.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $31.11 on Friday. The business has a 50-day simple moving average of $32.52 and a 200 day simple moving average of $28.97. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, research analysts anticipate that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were issued a dividend of $0.22 per share. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma’s dividend payout ratio (DPR) is currently 60.69%.

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.