Principal Financial Group Inc. Sells 3,704 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Principal Financial Group Inc. trimmed its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 12.7% in the 3rd quarter, Holdings Channel reports. The fund owned 25,409 shares of the biopharmaceutical company’s stock after selling 3,704 shares during the quarter. Principal Financial Group Inc.’s holdings in Royalty Pharma were worth $719,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Swedbank AB boosted its stake in Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock worth $311,964,000 after purchasing an additional 213,900 shares in the last quarter. State Street Corp raised its holdings in Royalty Pharma by 0.3% in the third quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company’s stock worth $269,215,000 after buying an additional 29,451 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 417,490 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Royalty Pharma by 44.7% in the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after buying an additional 936,900 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after buying an additional 1,103,341 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RPRX shares. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Royalty Pharma presently has an average rating of “Buy” and a consensus price target of $41.67.

Royalty Pharma Trading Up 0.2 %

Shares of RPRX stock opened at $25.84 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market cap of $15.22 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 4.36 and a beta of 0.47. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $31.66. The firm has a fifty day moving average price of $25.98 and a 200-day moving average price of $27.05.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is 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.