Principal Financial Group Inc. Lowers Position in Royalty Pharma plc (NASDAQ:RPRX)

Principal Financial Group Inc. decreased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RPRX. Franklin Resources Inc. grew its stake in Royalty Pharma by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after buying an additional 70,130 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Royalty Pharma during the 3rd quarter worth $61,000. Sanctuary Advisors LLC grew its position in Royalty Pharma by 78.9% in the third quarter. Sanctuary Advisors LLC now owns 41,466 shares of the biopharmaceutical company’s stock worth $1,096,000 after acquiring an additional 18,288 shares in the last quarter. Hohimer Wealth Management LLC increased its stake in Royalty Pharma by 1.0% in the third quarter. Hohimer Wealth Management LLC now owns 145,357 shares of the biopharmaceutical company’s stock valued at $4,112,000 after acquiring an additional 1,445 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Royalty Pharma by 6.1% in the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock valued at $205,562,000 after acquiring an additional 417,490 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $25.84 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $25.98 and its 200 day simple moving average is $27.05. The stock has a market cap of $15.22 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 4.36 and a beta of 0.47. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $31.66.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, November 15th. Royalty Pharma’s payout ratio is currently 43.52%.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of research reports. Citigroup cut their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, six 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 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.