Conning Inc. Acquires 411 Shares of Eli Lilly and Company (NYSE:LLY)

Conning Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,615 shares of the company’s stock after purchasing an additional 411 shares during the period. Conning Inc.’s holdings in Eli Lilly and Company were worth $8,195,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after purchasing an additional 1,021,287 shares during the last quarter. Integrated Investment Consultants LLC grew its stake in Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after purchasing an additional 692,303 shares during the period. Strategic Financial Concepts LLC increased its position in shares of Eli Lilly and Company by 126,531.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock valued at $523,991,000 after purchasing an additional 678,209 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Eli Lilly and Company by 100.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after purchasing an additional 584,866 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 0.9 %

Eli Lilly and Company stock opened at $878.09 on Monday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The stock has a market cap of $833.58 billion, a P/E ratio of 74.99, a PEG ratio of 1.87 and a beta of 0.42. The firm’s fifty day moving average price is $789.87 and its 200-day moving average price is $843.31.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Equities research analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.68%. Eli Lilly and Company’s payout ratio is presently 51.24%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LLY. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company lowered their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Bank of America restated 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. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $997.50.

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.