Homestead Advisers Corp Grows Stake in Royalty Pharma plc (NASDAQ:RPRX)

Homestead Advisers Corp raised its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,931,140 shares of the biopharmaceutical company's stock after acquiring an additional 73,000 shares during the quarter. Homestead Advisers Corp owned approximately 0.33% of Royalty Pharma worth $49,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in Royalty Pharma by 5.0% during the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock worth $40,705,000 after purchasing an additional 70,130 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Royalty Pharma by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock worth $79,888,000 after buying an additional 130,025 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Royalty Pharma in the 4th quarter valued at $2,355,000. Jupiter Asset Management Ltd. purchased a new position in shares of Royalty Pharma in the 4th quarter valued at $4,950,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Royalty Pharma by 303.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock valued at $13,926,000 after buying an additional 406,123 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup restated a "buy" rating on shares of Royalty Pharma in a research note on Friday. TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research report on Tuesday, December 24th. One research 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's stock. According to MarketBeat, Royalty Pharma currently has an average rating of "Buy" and an average target price of $41.60.

Royalty Pharma Stock Performance

RPRX traded down $0.53 on Monday, hitting $30.84. 3,185,818 shares of the company traded hands, compared to its average volume of 4,431,269. The company has a 50 day moving average of $32.44 and a 200-day moving average of $28.86. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $34.20. The stock has a market capitalization of $17.78 billion, a PE ratio of 21.26, a PEG ratio of 2.31 and a beta of 0.47. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date was Friday, February 21st. Royalty Pharma's payout ratio is 60.69%.

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.