Allstate Corp Purchases 15,479 Shares of Royalty Pharma PLC $RPRX

Allstate Corp lifted its position in Royalty Pharma PLC (NASDAQ:RPRX) by 120.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,373 shares of the biopharmaceutical company’s stock after acquiring an additional 15,479 shares during the quarter. Allstate Corp’s holdings in Royalty Pharma were worth $1,096,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Strs Ohio grew its position in shares of Royalty Pharma by 2.8% in the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 252 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after purchasing an additional 255 shares in the last quarter. Private Trust Co. NA boosted its stake in Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Hudson Bay Capital Management LP lifted its stake in Royalty Pharma by 1.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 29,384 shares of the biopharmaceutical company’s stock valued at $1,037,000 after acquiring an additional 289 shares during the period. Finally, Truist Financial Corp lifted its stake in Royalty Pharma by 1.1% during the 4th quarter. Truist Financial Corp now owns 27,769 shares of the biopharmaceutical company’s stock valued at $1,073,000 after acquiring an additional 303 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Insider Buying and Selling

In other Royalty Pharma news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares in the company, valued at $10,165,559. This represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 233,976 shares of company stock worth $11,710,449. 18.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. UBS Group lifted their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Finally, Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $53.71.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $55.76 on Friday. The firm has a market capitalization of $32.11 billion, a P/E ratio of 37.93, a P/E/G ratio of 1.50 and a beta of 0.40. Royalty Pharma PLC has a 52 week low of $32.29 and a 52 week high of $56.07. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $49.89 and its two-hundred day moving average is $44.46.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The company had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Research analysts forecast that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be given a $0.235 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.