Citigroup Inc. Sells 66,237 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Citigroup Inc. lowered its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 528,502 shares of the biopharmaceutical company’s stock after selling 66,237 shares during the period. Citigroup Inc. owned approximately 0.09% of Royalty Pharma worth $14,951,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RPRX. Versant Capital Management Inc lifted its stake in shares of Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,043 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Royalty Pharma by 362.7% in 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 in the last quarter. Gladius Capital Management LP bought a new position in shares of Royalty Pharma in the second quarter worth approximately $32,000. EverSource Wealth Advisors LLC raised its holdings in shares of Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 655 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in shares of Royalty Pharma by 274.7% during the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock valued at $168,000 after purchasing an additional 4,683 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

RPRX opened at $26.60 on Thursday. The business has a fifty day moving average of $27.19 and a 200 day moving average of $27.35. The stock has a market cap of $15.67 billion, a P/E ratio of 13.78, a PEG ratio of 4.65 and a beta of 0.47. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 52-week low of $25.10 and a 52-week high of $31.66.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.16%. Royalty Pharma’s payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

RPRX has been the subject of several research reports. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, 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 report on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.