The Manufacturers Life Insurance Company Has $1.34 Billion Position in Eli Lilly and Company (NYSE:LLY)

The Manufacturers Life Insurance Company trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.5% during the third quarter, Holdings Channel reports. The firm 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’s holdings in Eli Lilly and Company were worth $1,342,811,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the third quarter valued at approximately $30,000. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Finally, Cedar Mountain Advisors LLC grew its position in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 0.9 %

Shares of NYSE LLY opened at $755.00 on Tuesday. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market cap of $716.73 billion, a P/E ratio of 81.62, a P/E/G ratio of 2.83 and a beta of 0.43. The firm has a 50 day moving average price of $861.63 and a 200 day moving average price of $870.20.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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). 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 analyst estimates of $12.09 billion. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Analysts expect that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared 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 is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the 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 completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Barclays lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Bank of America lowered their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.