Royal London Asset Management Ltd. Has $639.98 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Royal London Asset Management Ltd. reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 8.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 722,369 shares of the company’s stock after selling 62,981 shares during the period. Eli Lilly and Company accounts for about 1.6% of Royal London Asset Management Ltd.’s holdings, making the stock its 10th largest position. Royal London Asset Management Ltd.’s holdings in Eli Lilly and Company were worth $639,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Petrus Trust Company LTA purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at $668,000. Pinnacle Family Advisors LLC bought a new stake in Eli Lilly and Company in the third quarter worth about $572,000. Pinpoint Asset Management Ltd lifted its stake in Eli Lilly and Company by 26.2% in the third quarter. Pinpoint Asset Management Ltd now owns 4,050 shares of the company’s stock worth $3,588,000 after purchasing an additional 841 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $11,657,000. Finally, Polymer Capital Management HK LTD bought a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $443,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 2.0 %

Shares of Eli Lilly and Company stock opened at $829.82 on Thursday. The firm’s 50 day moving average price is $845.38 and its 200-day moving average price is $871.07. 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 52-week low of $561.65 and a 52-week high of $972.53. The company has a market cap of $787.76 billion, a P/E ratio of 89.71, a PEG ratio of 3.08 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. On average, sell-side analysts predict that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were 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 in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on LLY shares. BMO Capital Markets upped their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price objective 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 report on Monday, November 4th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

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.