State of New Jersey Common Pension Fund D Has $5.49 Million Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

State of New Jersey Common Pension Fund D boosted its stake in Royalty Pharma plc (NASDAQ:RPRXFree Report) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RPRX. Norges Bank bought a new position in Royalty Pharma in the 4th quarter valued at approximately $150,822,000. Vanguard Group Inc. increased its position in Royalty Pharma by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock valued at $1,241,289,000 after acquiring an additional 2,224,056 shares during the period. Goldman Sachs Group Inc. increased its position in Royalty Pharma by 58.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,647,056 shares of the biopharmaceutical company’s stock valued at $112,111,000 after acquiring an additional 1,343,711 shares during the period. Marshall Wace LLP increased its position in Royalty Pharma by 168.6% in the 2nd quarter. Marshall Wace LLP now owns 1,806,621 shares of the biopharmaceutical company’s stock valued at $55,536,000 after acquiring an additional 1,134,091 shares during the period. Finally, Millennium Management LLC increased its position in Royalty Pharma by 1,516.8% in the 4th quarter. Millennium Management LLC now owns 984,366 shares of the biopharmaceutical company’s stock valued at $38,902,000 after acquiring an additional 923,481 shares during the period. Institutional investors own 49.03% of the company’s stock.

Royalty Pharma Trading Down 0.7 %

RPRX opened at $29.05 on Tuesday. Royalty Pharma plc has a twelve month low of $25.92 and a twelve month high of $38.51. The company has a quick ratio of 13.51, a current ratio of 13.51 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $28.39 and a 200-day moving average of $28.31. The stock 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, February 16th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.89%. Royalty Pharma’s dividend payout ratio is 258.07%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Royalty Pharma from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. TheStreet cut shares of Royalty Pharma from a “c” rating to a “d+” rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Royalty Pharma has an average rating of “Moderate Buy” and an average price target of $55.00.

View Our Latest Analysis on RPRX

Insider Transactions at Royalty Pharma

In other news, Director Rory B. Riggs sold 235,200 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $28.52, for a total transaction of $6,707,904.00. Following the completion of the sale, the director now directly owns 254,899 shares in the company, valued at $7,269,719.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Royalty Pharma 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 sale, the director now directly owns 254,899 shares in the company, valued at $7,269,719.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rory B. Riggs sold 35,702 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $27.55, for a total transaction of $983,590.10. Following the completion of the sale, the director now owns 20,099 shares of the company’s stock, valued at $553,727.45. The disclosure for this sale can be found here. Insiders sold a total of 312,631 shares of company stock worth $8,860,323 over the last three months. 18.72% of the stock is owned by company insiders.

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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