ABN AMRO Bank N.V. Trims Stake in Royalty Pharma PLC $RPRX

ABN AMRO Bank N.V. reduced its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 29.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,065 shares of the biopharmaceutical company’s stock after selling 10,429 shares during the quarter. ABN AMRO Bank N.V.’s holdings in Royalty Pharma were worth $1,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Phillips Wealth Planners LLC lifted its position in shares of Royalty Pharma by 1.9% during the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after buying an additional 242 shares in the last quarter. Strs Ohio raised its position in shares of Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after buying an additional 252 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Royalty Pharma by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after buying an additional 255 shares during the last quarter. Cary Street Partners Financial LLC lifted its holdings in shares of Royalty Pharma by 1.1% in the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after buying an additional 260 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 288 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

RPRX stock opened at $56.23 on Monday. The firm has a fifty day moving average price of $52.81 and a 200 day moving average price of $46.64. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $56.50. The firm has a market cap of $32.38 billion, a PE ratio of 38.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66.

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

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 15th. Royalty Pharma’s payout ratio is presently 63.95%.

Insider Activity

In other news, EVP Christopher Hite sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total value of $8,160,000.00. Following the completion of the sale, the executive vice president owned 559,399 shares in the company, valued at approximately $30,431,305.60. This trade represents a 21.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $3,476,258.02. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 323,492 shares of company stock worth $17,160,920. 18.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a report 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. Morgan Stanley increased their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma has a consensus rating of “Buy” and an average target price of $53.71.

Royalty Pharma Company Profile

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.