Royalty Pharma plc (NASDAQ:RPRX) Stake Reduced by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 70.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,469 shares of the biopharmaceutical company’s stock after selling 48,057 shares during the quarter. Amalgamated Bank’s holdings in Royalty Pharma were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Swedbank AB acquired a new position in Royalty Pharma in the first quarter worth about $251,461,000. New South Capital Management Inc. grew its position in Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock valued at $61,943,000 after purchasing an additional 887,522 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Royalty Pharma by 2,974.4% during the second quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock worth $8,931,000 after buying an additional 327,659 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Royalty Pharma by 69.0% during the 2nd quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock worth $20,715,000 after acquiring an additional 320,606 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Royalty Pharma by 11,203.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company’s stock valued at $8,197,000 after purchasing an additional 308,102 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 1.3 %

Shares of NASDAQ:RPRX opened at $25.70 on Friday. The stock has a 50 day moving average price of $27.47 and a 200-day moving average price of $27.46. The firm has a market capitalization of $15.25 billion, a P/E ratio of 13.32, a P/E/G ratio of 3.78 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. Royalty Pharma plc has a 52-week low of $25.10 and a 52-week high of $31.66.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is 43.52%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Citigroup reduced their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, The Goldman Sachs Group lifted their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

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.