The Manufacturers Life Insurance Company Sells 127,825 Shares of Royalty Pharma plc (NASDAQ:RPRX)

The Manufacturers Life Insurance Company decreased its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 45.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 152,027 shares of the biopharmaceutical company’s stock after selling 127,825 shares during the period. The Manufacturers Life Insurance Company’s holdings in Royalty Pharma were worth $4,301,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in Royalty Pharma in the second quarter worth $32,000. Blue Trust Inc. lifted its stake in shares of Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 valued at $76,000 after acquiring an additional 655 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in Royalty Pharma by 274.7% during the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock valued at $168,000 after acquiring an additional 4,683 shares during the period. Finally, Lake Street Advisors Group LLC bought a new position in Royalty Pharma during the 3rd quarter worth approximately $211,000. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Down 1.8 %

Shares of NASDAQ RPRX opened at $25.91 on Friday. The firm has a fifty day simple moving average of $27.03 and a two-hundred day simple moving average of $27.29. The firm has a market capitalization of $15.27 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 4.63 and a beta of 0.46. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 12 month low of $25.10 and a 12 month high of $31.66.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.21 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.24%. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Wall Street Analyst Weigh In

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

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.