Manning & Napier Advisors LLC Lowers Position in Royalty Pharma plc (NASDAQ:RPRX)

Manning & Napier Advisors LLC trimmed its stake in Royalty Pharma plc (NASDAQ:RPRX) by 39.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 81,054 shares of the biopharmaceutical company’s stock after selling 52,510 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Royalty Pharma were worth $2,068,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group grew its holdings 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. Blue Trust Inc. grew its stake in Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the period. Fifth Third Bancorp grew its stake in Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 997 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Royalty Pharma during the third quarter worth approximately $61,000. Finally, GAMMA Investing LLC grew its stake in Royalty Pharma by 31.4% during the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 590 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $31.59 on Friday. The company has a market capitalization of $18.61 billion, a PE ratio of 16.37 and a beta of 0.47. The firm has a fifty day simple moving average of $27.13 and a 200-day simple moving average of $27.47. 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 twelve month low of $24.05 and a twelve month high of $32.21.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.79%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma’s dividend payout ratio is 43.52%.

Wall Street Analysts Forecast Growth

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