Principal Financial Group Inc. Has $513,000 Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Principal Financial Group Inc. trimmed its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 20.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,116 shares of the biopharmaceutical company’s stock after selling 5,293 shares during the quarter. Principal Financial Group Inc.’s holdings in Royalty Pharma were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RPRX. Swedbank AB boosted its holdings in Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock valued at $311,964,000 after purchasing an additional 213,900 shares during the period. Van ECK Associates Corp raised its position in shares of Royalty Pharma by 171.1% during the third quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock valued at $2,777,000 after buying an additional 64,057 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Royalty Pharma by 48.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 504,835 shares of the biopharmaceutical company’s stock valued at $14,282,000 after buying an additional 165,440 shares during the period. Asset Management One Co. Ltd. grew its position in Royalty Pharma by 4.2% during the third quarter. Asset Management One Co. Ltd. now owns 148,356 shares of the biopharmaceutical company’s stock worth $4,197,000 after buying an additional 5,942 shares in the last quarter. Finally, Summit Global Investments bought a new position in Royalty Pharma during the third quarter valued at about $735,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $41.60.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $33.28 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company’s 50-day simple moving average is $30.72 and its 200 day simple moving average is $28.35. The stock has a market cap of $19.18 billion, a P/E ratio of 22.95, a PEG ratio of 2.31 and a beta of 0.47. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $34.20.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, research analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be issued a $0.22 dividend. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.64%. Royalty Pharma’s dividend payout ratio is presently 60.69%.

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.