Arrowstreet Capital Limited Partnership Sells 720,342 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Arrowstreet Capital Limited Partnership reduced its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 51.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 669,881 shares of the biopharmaceutical company's stock after selling 720,342 shares during the period. Arrowstreet Capital Limited Partnership owned 0.11% of Royalty Pharma worth $17,089,000 as of its most recent SEC filing.

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

Royalty Pharma Price Performance

Shares of RPRX stock traded up $1.42 on Wednesday, reaching $32.27. The company's stock had a trading volume of 7,300,464 shares, compared to its average volume of 3,214,960. The stock's fifty day simple moving average is $32.49 and its 200-day simple moving average is $29.08. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $34.20. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. Analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were given a dividend of $0.22 per share. The ex-dividend date was Friday, February 21st. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.73%. Royalty Pharma's dividend payout ratio is 60.69%.

Analysts Set New Price Targets

Several research firms recently commented on RPRX. TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research report on Tuesday, December 24th. Citigroup reissued 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $41.60.

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.