KBC Group NV Boosts Holdings in Royalty Pharma plc (NASDAQ:RPRX)

KBC Group NV increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 63.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,554 shares of the biopharmaceutical company’s stock after buying an additional 16,081 shares during the period. KBC Group NV’s holdings in Royalty Pharma were worth $1,176,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB increased its position in shares of Royalty Pharma by 30.6% during the second quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after acquiring an additional 2,533,570 shares during the period. Van ECK Associates Corp boosted its stake in shares of Royalty Pharma by 171.1% in the 3rd quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock valued at $2,777,000 after buying an additional 64,057 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Royalty Pharma by 5.2% during the first quarter. Canada Pension Plan Investment Board now owns 923,639 shares of the biopharmaceutical company’s stock worth $28,051,000 after buying an additional 45,839 shares in the last quarter. Summit Global Investments acquired a new stake in Royalty Pharma in the third quarter valued at approximately $735,000. Finally, Tidal Investments LLC lifted its stake in Royalty Pharma by 28.2% in the first quarter. Tidal Investments LLC now owns 90,149 shares of the biopharmaceutical company’s stock worth $2,740,000 after acquiring an additional 19,834 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Shares of RPRX opened at $25.80 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. Royalty Pharma plc has a 1-year low of $25.10 and a 1-year high of $31.66. The stock has a market cap of $15.31 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 3.76 and a beta of 0.47. The firm has a fifty day moving average price of $27.42 and a 200 day moving average price of $27.43.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s payout ratio is currently 43.52%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Citigroup cut their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their price objective on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Company 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.