Dai ichi Life Insurance Company Ltd Purchases 75,204 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Dai ichi Life Insurance Company Ltd boosted its position in Royalty Pharma plc (NASDAQ:RPRX) by 79.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 169,270 shares of the biopharmaceutical company’s stock after acquiring an additional 75,204 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Royalty Pharma were worth $4,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake 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 worth $28,000 after buying an additional 1,043 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Royalty Pharma during the second quarter worth $32,000. Blue Trust Inc. grew its stake in shares of Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Royalty Pharma by 32.1% during the second 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. grew its stake in shares of Royalty Pharma by 274.7% during the second 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 institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on RPRX. Citigroup decreased their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group lifted their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Royalty Pharma has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $26.29 on Wednesday. The firm has a market cap of $15.49 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 4.65 and a beta of 0.47. The firm’s fifty day moving average is $27.22 and its 200-day moving average is $27.35. 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 plc has a 52 week low of $25.10 and a 52 week high of $31.66.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued 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 3.20%. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

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.