Cigna Investments Inc. New lifted its stake in Eli Lilly and Company (NYSE:LLY) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,072 shares of the company’s stock after buying an additional 681 shares during the period. Cigna Investments Inc. New’s holdings in Eli Lilly and were worth $5,431,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Geller Advisors LLC boosted its stake in Eli Lilly and by 44.5% in the 1st quarter. Geller Advisors LLC now owns 2,359 shares of the company’s stock valued at $441,000 after buying an additional 727 shares in the last quarter. AXS Investments LLC acquired a new stake in shares of Eli Lilly and in the 1st quarter valued at $600,000. Rafferty Asset Management LLC grew its holdings in shares of Eli Lilly and by 1.2% in the 1st quarter. Rafferty Asset Management LLC now owns 18,097 shares of the company’s stock worth $3,381,000 after purchasing an additional 221 shares during the last quarter. Tredje AP fonden increased its position in shares of Eli Lilly and by 45.1% during the 1st quarter. Tredje AP fonden now owns 273,516 shares of the company’s stock worth $51,098,000 after purchasing an additional 85,000 shares in the last quarter. Finally, Diversified Trust Co increased its position in shares of Eli Lilly and by 7.9% during the 1st quarter. Diversified Trust Co now owns 11,138 shares of the company’s stock worth $2,081,000 after purchasing an additional 819 shares in the last quarter. Institutional investors and hedge funds own 81.63% of the company’s stock.
Shares of NYSE LLY traded down $1.77 during midday trading on Thursday, reaching $199.22. 26,573 shares of the stock were exchanged, compared to its average volume of 2,945,235. Eli Lilly and Company has a 12 month low of $129.21 and a 12 month high of $218.00. The company has a market capitalization of $191.06 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 1.81 and a beta of 0.25. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.42 and a quick ratio of 1.10. The business has a 50-day simple moving average of $190.13 and a two-hundred day simple moving average of $182.53.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings data on Monday, April 26th. The company reported $1.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by ($0.25). Eli Lilly and had a return on equity of 132.28% and a net margin of 23.91%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the business posted $1.75 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 7.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Friday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, May 13th. Eli Lilly and’s dividend payout ratio is currently 42.88%.
Eli Lilly and declared that its board has authorized a stock repurchase program on Monday, May 3rd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several analysts have recently commented on the company. Morgan Stanley decreased their target price on Eli Lilly and from $217.00 to $207.00 and set an “overweight” rating on the stock in a report on Tuesday, May 4th. Cowen increased their price objective on shares of Eli Lilly and from $195.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Truist increased their price objective on shares of Eli Lilly and from $200.00 to $215.00 in a report on Monday, February 1st. Mizuho lowered their target price on shares of Eli Lilly and from $228.00 to $216.00 and set a “buy” rating for the company in a report on Tuesday, May 4th. Finally, Truist Securities increased their price target on Eli Lilly and from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 22nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Eli Lilly and presently has a consensus rating of “Buy” and a consensus price target of $200.75.
In other news, major shareholder Lilly Endowment Inc sold 125,284 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $209.69, for a total transaction of $26,270,801.96. Following the completion of the sale, the insider now owns 110,422,933 shares of the company’s stock, valued at $23,154,584,820.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jackson P. Tai acquired 1,366 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The shares were bought at an average price of $182.84 per share, for a total transaction of $249,759.44. Following the completion of the acquisition, the director now owns 60,649 shares of the company’s stock, valued at $11,089,063.16. The disclosure for this purchase can be found here. Insiders have sold a total of 235,544 shares of company stock worth $48,331,546 in the last quarter. 0.13% of the stock is currently owned by company insiders.
About Eli Lilly and
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceutical products worldwide. It offers Baqsimi for severe hypoglycemia; Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, Humulin U-500, and Lyumjev for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.
Further Reading: Special Purpose Acquisition Company (SPAC)
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