Stifel Financial Corp Lowers Position in Royalty Pharma plc (NASDAQ:RPRX)

Stifel Financial Corp decreased its stake in Royalty Pharma plc (NASDAQ:RPRX) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,352 shares of the biopharmaceutical company’s stock after selling 530 shares during the quarter. Stifel Financial Corp’s holdings in Royalty Pharma were worth $547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RPRX. Bank of New York Mellon Corp increased its holdings in 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 worth $40,428,000 after acquiring an additional 86,248 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Royalty Pharma by 40.3% during the 2nd quarter. State of Michigan Retirement System now owns 16,700 shares of the biopharmaceutical company’s stock valued at $440,000 after purchasing an additional 4,800 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Royalty Pharma by 11,203.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company’s stock valued at $8,197,000 after buying an additional 308,102 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Royalty Pharma by 119.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 399,510 shares of the biopharmaceutical company’s stock worth $10,535,000 after buying an additional 217,767 shares during the period. Finally, iA Global Asset Management Inc. increased its stake in Royalty Pharma by 274.7% in the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 4,683 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup dropped their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Royalty Pharma has an average rating of “Buy” and a consensus price target of $41.67.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $25.40 on Friday. The firm has a market cap of $14.97 billion, a PE ratio of 13.16, a PEG ratio of 4.36 and a beta of 0.46. The stock has a 50 day moving average of $26.21 and a 200 day moving average of $27.10. 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 12 month low of $24.05 and a 12 month high of $31.66.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.31%. Royalty Pharma’s dividend payout ratio is currently 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.