Eli Lilly and Company (NYSE:LLY) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,558 shares of the company’s stock after acquiring an additional 10,436 shares during the quarter. Eli Lilly and Company comprises about 1.6% of Tokio Marine Asset Management Co. Ltd.’s holdings, making the stock its 13th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Eli Lilly and Company were worth $43,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Algert Global LLC raised its stake in shares of Eli Lilly and Company by 27.9% in the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after acquiring an additional 110 shares during the period. AMF Tjanstepension AB grew its stake in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after purchasing an additional 176,552 shares in the last quarter. Czech National Bank increased its stake in shares of Eli Lilly and Company by 5.6% in the third quarter. Czech National Bank now owns 160,697 shares of the company’s stock worth $142,368,000 after buying an additional 8,566 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Eli Lilly and Company by 24.3% in the 3rd quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock worth $12,838,000 after purchasing an additional 2,833 shares during the last quarter. Finally, WealthBridge Capital Management LLC raised its stake in Eli Lilly and Company by 55.6% during the third quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock valued at $4,650,000 after buying an additional 1,876 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY opened at $811.61 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $770.48 billion, a PE ratio of 87.74, a P/E/G ratio of 1.71 and a beta of 0.41. The business has a fifty day simple moving average of $783.56 and a 200-day simple moving average of $844.18. Eli Lilly and Company has a fifty-two week low of $637.00 and a fifty-two week high of $972.53.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $997.22.

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.