Royalty Pharma plc (NASDAQ:RPRX) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,009,541 shares of the biopharmaceutical company’s stock after purchasing an additional 15,963 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Royalty Pharma were worth $28,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RPRX. Summit Global Investments purchased a new stake in shares of Royalty Pharma in the third quarter valued at about $735,000. River Road Asset Management LLC raised its stake in Royalty Pharma by 9.8% during the 3rd quarter. River Road Asset Management LLC now owns 469,980 shares of the biopharmaceutical company’s stock valued at $13,296,000 after acquiring an additional 41,918 shares during the last quarter. AlphaCentric Advisors LLC lifted its position in Royalty Pharma by 12.5% during the 3rd quarter. AlphaCentric Advisors LLC now owns 67,500 shares of the biopharmaceutical company’s stock worth $1,910,000 after acquiring an additional 7,500 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Royalty Pharma by 4.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 148,356 shares of the biopharmaceutical company’s stock valued at $4,197,000 after purchasing an additional 5,942 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings 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 purchasing an additional 165,440 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Royalty Pharma Stock Performance

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

Royalty Pharma Dividend Announcement

The business 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.27%. Royalty Pharma’s payout ratio is 43.52%.

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.