The Manufacturers Life Insurance Company Has $4.30 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

The Manufacturers Life Insurance Company reduced its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 45.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,027 shares of the biopharmaceutical company's stock after selling 127,825 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Royalty Pharma were worth $4,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RPRX. Swedbank AB boosted its stake in shares of Royalty Pharma by 30.6% during the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company's stock worth $285,151,000 after acquiring an additional 2,533,570 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company's stock valued at $84,915,000 after purchasing an additional 1,103,341 shares during the period. New South Capital Management Inc. increased its stake in Royalty Pharma by 60.7% in the 2nd quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company's stock worth $61,943,000 after purchasing an additional 887,522 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in Royalty Pharma by 2,974.4% during the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company's stock worth $8,931,000 after buying an additional 327,659 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Royalty Pharma by 69.0% during the second quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company's stock valued at $20,715,000 after buying an additional 320,606 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 1.8 %

RPRX stock traded down $0.48 during trading hours on Friday, hitting $25.91. The company's stock had a trading volume of 4,327,547 shares, compared to its average volume of 3,252,537. The stock has a 50 day moving average price of $27.03 and a two-hundred day moving average price of $27.29. Royalty Pharma plc has a 12 month low of $25.10 and a 12 month high of $31.66. The company has a market capitalization of $15.27 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 4.59 and a beta of 0.46. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, November 15th. Royalty Pharma's dividend payout ratio is presently 43.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RPRX. StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Finally, Citigroup dropped their target price on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Royalty Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

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.