Thrivent Financial for Lutherans Purchases 168,905 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Thrivent Financial for Lutherans raised its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 96.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,150 shares of the biopharmaceutical company's stock after acquiring an additional 168,905 shares during the period. Thrivent Financial for Lutherans owned about 0.06% of Royalty Pharma worth $9,708,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of Royalty Pharma by 5,215.0% during the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 1,043 shares during the last quarter. Gladius Capital Management LP purchased a new stake in shares of Royalty Pharma during the 2nd quarter valued at $32,000. Blue Trust Inc. raised its stake in shares of Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 943 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock worth $76,000 after buying an additional 655 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Royalty Pharma by 274.7% in the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company's stock worth $168,000 after buying an additional 4,683 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

RPRX stock traded up $0.03 during midday trading on Friday, reaching $26.43. 2,461,717 shares of the company's stock traded hands, compared to its average volume of 2,633,763. The firm has a market capitalization of $15.57 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 4.59 and a beta of 0.47. The company has a 50-day moving average price of $27.33 and a two-hundred day moving average price of $27.40. Royalty Pharma plc has a 52 week low of $25.10 and a 52 week high of $31.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. Royalty Pharma's payout ratio is 43.52%.

Wall Street Analyst Weigh In

Several brokerages have commented on RPRX. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.67.

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.