Allstate Corp Buys Shares of 11,718 Royalty Pharma plc (NASDAQ:RPRX)

Allstate Corp purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,718 shares of the biopharmaceutical company's stock, valued at approximately $299,000.

Several other large investors have also recently bought and sold shares of RPRX. Brooklyn Investment Group grew its position in shares of Royalty Pharma by 1,006.9% in the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 876 shares during the last quarter. Allworth Financial LP boosted its stake in Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 877 shares during the period. Riverview Trust Co grew its holdings in Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 1,186 shares in the last quarter. Fifth Third Bancorp increased its position in Royalty Pharma by 187.1% during the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 997 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 376 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

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Royalty Pharma Price Performance

RPRX stock traded down $0.08 during midday trading on Monday, reaching $31.03. The company had a trading volume of 5,739,607 shares, compared to its average volume of 3,183,916. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20. The stock has a 50 day moving average price of $32.50 and a 200-day moving average price of $28.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $17.89 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its 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 net margin of 37.94% and a return on equity of 24.40%. Equities research analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were paid a dividend of $0.22 per share. The ex-dividend date was Friday, February 21st. This is a boost from Royalty Pharma's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.84%. Royalty Pharma's dividend payout ratio is presently 60.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen upgraded shares of Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. Citigroup restated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One 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 presently has a consensus rating of "Buy" and an average price target of $41.60.

Royalty Pharma Company 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.