State of New Jersey Common Pension Fund D Acquires 5,486 Shares of Royalty Pharma plc (NASDAQ:RPRX)

State of New Jersey Common Pension Fund D lifted its holdings in Royalty Pharma plc (NASDAQ:RPRXFree Report) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 202,087 shares of the biopharmaceutical company’s stock after purchasing an additional 5,486 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Royalty Pharma were worth $5,485,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Allworth Financial LP increased its holdings in Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 451 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Royalty Pharma by 112.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 531 shares in the last quarter. Captrust Financial Advisors grew its holdings in Royalty Pharma by 210.8% during the 2nd quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 546 shares in the last quarter. CWM LLC grew its holdings in Royalty Pharma by 30.7% during the 2nd quarter. CWM LLC now owns 2,718 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 638 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Royalty Pharma during the 2nd quarter valued at approximately $99,000. Institutional investors own 49.03% of the company’s stock.

Insider Activity at Royalty Pharma

In related news, Director Rory B. Riggs sold 235,200 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $28.52, for a total value of $6,707,904.00. Following the completion of the transaction, the director now directly owns 254,899 shares of the company’s stock, valued at $7,269,719.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Avara Management Ltd sold 41,729 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $28.01, for a total value of $1,168,829.29. Following the completion of the sale, the insider now directly owns 2,753,186 shares in the company, valued at $77,116,739.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rory B. Riggs sold 235,200 shares of Royalty Pharma stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $28.52, for a total value of $6,707,904.00. Following the sale, the director now owns 254,899 shares of the company’s stock, valued at $7,269,719.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,631 shares of company stock valued at $8,860,323. 18.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RPRX. Morgan Stanley increased their price objective on shares of Royalty Pharma from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. TheStreet lowered shares of Royalty Pharma from a “c” rating to a “d+” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.00.

Get Our Latest Report on RPRX

Royalty Pharma Trading Down 0.7 %

RPRX stock opened at $29.05 on Tuesday. The firm has a fifty day moving average price of $28.39 and a 200 day moving average price of $28.31. Royalty Pharma plc has a fifty-two week low of $25.92 and a fifty-two week high of $38.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 13.51 and a current ratio of 13.51. The firm has a market cap of $17.36 billion, a PE ratio of 93.71, a price-to-earnings-growth ratio of 2.46 and a beta of 0.42.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 16th will be issued a $0.21 dividend. The ex-dividend date is Thursday, February 15th. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.89%. Royalty Pharma’s dividend payout ratio (DPR) is 258.07%.

Royalty Pharma Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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