Truist Financial Corp Acquires New Position in Royalty Pharma plc (NASDAQ:RPRX)

Truist Financial Corp acquired a new position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,539 shares of the biopharmaceutical company's stock, valued at approximately $371,000.

Several other institutional investors have also modified their holdings of RPRX. Swedbank AB raised its position in shares of 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 acquiring an additional 1,136,800 shares in the last quarter. State Street Corp increased its stake in Royalty Pharma by 0.3% during the 3rd quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company's stock valued at $269,215,000 after buying an additional 29,451 shares during the period. Geode Capital Management LLC lifted its position in 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 period. Two Sigma Advisers LP boosted its stake in Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock valued at $85,809,000 after buying an additional 936,900 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Royalty Pharma by 58.1% during 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 in 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

Separately, TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $41.60.

Royalty Pharma Price Performance

Shares of RPRX traded down $0.27 on Friday, hitting $33.01. The company's stock had a trading volume of 5,407,966 shares, compared to its average volume of 4,474,442. The company has a market capitalization of $19.03 billion, a PE ratio of 22.77, a PEG 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 plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.20. The company has a 50 day moving average price of $30.87 and a 200 day moving average price of $28.39.

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

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be given a dividend of $0.22 per share. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.67%. Royalty Pharma's dividend 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.