River Road Asset Management LLC Sells 70,657 Shares of Royalty Pharma plc (NASDAQ:RPRX)

River Road Asset Management LLC reduced its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,323 shares of the biopharmaceutical company's stock after selling 70,657 shares during the quarter. River Road Asset Management LLC owned 0.07% of Royalty Pharma worth $10,187,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Swedbank AB boosted its position in Royalty Pharma by 10.3% during the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock valued at $310,308,000 after buying an additional 1,136,800 shares during the period. State Street Corp boosted its holdings in shares of Royalty Pharma by 0.3% during the third quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company's stock worth $269,215,000 after purchasing an additional 29,451 shares during the period. Geode Capital Management LLC grew its stake in shares of Royalty Pharma by 6.1% in the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company's stock worth $205,562,000 after purchasing an additional 417,490 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $79,888,000 after purchasing an additional 130,025 shares during the period. Finally, Two Sigma Advisers LP raised its position in Royalty Pharma by 44.7% during the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock valued at $85,809,000 after purchasing an additional 936,900 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

Shares of RPRX opened at $32.46 on Wednesday. The company has a 50-day simple moving average of $31.16 and a two-hundred day simple moving average of $28.47. 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 firm has a market capitalization of $18.71 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20.

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

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were given a $0.22 dividend. 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 dividend yield of 2.71%. Royalty Pharma's dividend payout ratio is currently 60.69%.

Analyst Ratings Changes

Separately, TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus 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.

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