Public Sector Pension Investment Board Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Public Sector Pension Investment Board lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 16.9% in the third quarter, Holdings Channel.com reports. The fund owned 422,675 shares of the company’s stock after acquiring an additional 61,220 shares during the quarter. Eli Lilly and Company makes up approximately 2.0% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 5th biggest position. Public Sector Pension Investment Board’s holdings in Eli Lilly and Company were worth $374,465,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LLY. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at about $30,000. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $36,000. Finally, Cedar Mountain Advisors LLC grew its stake in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $788.35 on Thursday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a 50-day moving average of $856.96 and a 200-day moving average of $869.83. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company has a market cap of $748.40 billion, a P/E ratio of 85.23, a P/E/G ratio of 2.86 and a beta of 0.43.

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

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analysts Set New Price Targets

A number of research firms have issued reports on LLY. Bank of America cut their price target 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. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Citigroup boosted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Profile

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.