PNC Financial Services Group Inc. Grows Stake in Royalty Pharma plc (NASDAQ:RPRX)

PNC Financial Services Group Inc. raised its stake in Royalty Pharma plc (NASDAQ:RPRX) by 53.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,806 shares of the biopharmaceutical company’s stock after purchasing an additional 4,129 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Royalty Pharma were worth $301,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group raised its position in Royalty Pharma by 1,006.9% in the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 876 shares during the period. Allworth Financial LP raised its position in Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 877 shares during the period. Riverview Trust Co raised its position in Royalty Pharma by 3,953.3% in the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 1,186 shares during the period. Fifth Third Bancorp raised its position in Royalty Pharma by 187.1% in the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 997 shares during the period. Finally, Blue Trust Inc. raised its position in Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 376 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 0.6 %

Shares of NASDAQ RPRX opened at $33.70 on Friday. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $34.20. The firm has a market cap of $19.43 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50-day simple moving average is $32.25 and its 200-day simple moving average is $28.72.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, equities analysts anticipate that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a $0.22 dividend. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma’s payout ratio is currently 60.69%.

Wall Street Analysts Forecast Growth

Separately, TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and a consensus target price of $41.60.

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.