Eli Lilly and Company (NYSE:LLY) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,515,691 shares of the company’s stock after selling 7,226 shares during the period. Eli Lilly and Company comprises 1.2% of The Manufacturers Life Insurance Company’s holdings, making the stock its 7th biggest holding. The Manufacturers Life Insurance Company owned about 0.16% of Eli Lilly and Company worth $1,342,811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. Virtu Financial LLC purchased a new position in Eli Lilly and Company in the 1st quarter worth about $2,138,000. Chesley Taft & Associates LLC raised its holdings in shares of Eli Lilly and Company by 5.4% during the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after acquiring an additional 1,163 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $239,000. Long Run Wealth Advisors LLC acquired a new position in Eli Lilly and Company in the 2nd quarter worth approximately $209,000. Finally, Essex Financial Services Inc. grew its position in Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock worth $25,517,000 after purchasing an additional 1,556 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $755.00 on Tuesday. The company has a market cap of $716.73 billion, a price-to-earnings ratio of 81.62, a PEG ratio of 2.83 and a beta of 0.43. The business has a 50 day moving average price of $861.63 and a 200 day moving average price of $870.20. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. Research analysts predict that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LLY. Berenberg Bank raised their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America dropped their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers 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, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.