Thrivent Financial for Lutherans Increases Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Thrivent Financial for Lutherans increased its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 38.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 475,825 shares of the biopharmaceutical company's stock after buying an additional 132,675 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Royalty Pharma worth $12,139,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group lifted its stake in shares of Royalty Pharma by 1,006.9% during the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 876 shares during the last quarter. Allworth Financial LP increased its stake in Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 877 shares during the period. Riverview Trust Co lifted its holdings in Royalty Pharma by 3,953.3% during the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 1,186 shares in the last quarter. Fifth Third Bancorp boosted its position in Royalty Pharma by 187.1% in the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 997 shares during the period. Finally, Rakuten Securities Inc. grew its stake in Royalty Pharma by 160.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock worth $42,000 after acquiring an additional 1,003 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

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Royalty Pharma Stock Down 6.5 %

NASDAQ RPRX traded down $2.20 during midday trading on Wednesday, hitting $31.56. 10,883,483 shares of the company traded hands, compared to its average volume of 2,893,290. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.20. The company's 50-day simple moving average is $32.40 and its 200-day simple moving average is $28.78. The company has a market cap of $18.19 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued 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 return on equity of 24.40% and a net margin of 37.94%. As a group, equities research analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The company also recently disclosed 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 represents a $0.88 dividend on an annualized basis and a dividend yield of 2.79%. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's payout ratio is presently 60.69%.

Wall Street Analyst Weigh In

Separately, TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $41.60.

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.