Thrivent Financial for Lutherans Purchases 168,905 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Thrivent Financial for Lutherans lifted its position in Royalty Pharma plc (NASDAQ:RPRX) by 96.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,150 shares of the biopharmaceutical company’s stock after acquiring an additional 168,905 shares during the quarter. Thrivent Financial for Lutherans owned 0.06% of Royalty Pharma worth $9,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB lifted its position in shares of Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock worth $311,964,000 after purchasing an additional 213,900 shares during the period. New South Capital Management Inc. boosted its position in Royalty Pharma by 5.0% during the 3rd quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company’s stock valued at $69,774,000 after acquiring an additional 117,394 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Royalty Pharma by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock valued at $40,428,000 after acquiring an additional 86,248 shares during the period. Regal Partners Ltd raised its position in shares of Royalty Pharma by 22.7% in the 2nd quarter. Regal Partners Ltd now owns 1,177,601 shares of the biopharmaceutical company’s stock worth $31,053,000 after acquiring an additional 217,774 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Royalty Pharma by 1.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,009,541 shares of the biopharmaceutical company’s stock worth $28,560,000 after purchasing an additional 15,963 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Up 0.7 %

Shares of RPRX stock opened at $26.41 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a twelve month low of $25.10 and a twelve month high of $31.66. The stock has a 50 day moving average of $27.33 and a 200 day moving average of $27.40. The stock has a market cap of $15.56 billion, a P/E ratio of 13.69, a P/E/G ratio of 4.59 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid 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 is currently 43.52%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. 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 report on Friday, October 25th. The Goldman Sachs Group increased 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. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

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.