Principal Financial Group Inc. Cuts Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Principal Financial Group Inc. reduced its stake in Royalty Pharma plc (NASDAQ:RPRX) by 12.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,409 shares of the biopharmaceutical company’s stock after selling 3,704 shares during the quarter. Principal Financial Group Inc.’s holdings in Royalty Pharma were worth $719,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Versant Capital Management Inc raised its holdings in shares of Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,043 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Royalty Pharma during the 2nd quarter worth approximately $32,000. Blue Trust Inc. boosted its stake in shares of Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 655 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of Royalty Pharma by 274.7% in the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock valued at $168,000 after acquiring an additional 4,683 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Royalty Pharma Trading Up 0.1 %

Shares of RPRX opened at $26.43 on Friday. The firm has a market cap of $15.57 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 4.64 and a beta of 0.47. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two week high of $31.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The business has a 50-day moving average of $27.30 and a 200 day moving average of $27.38.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is currently 43.52%.

Royalty Pharma 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.