Zurich Insurance Group Ltd FI Sells 83,562 Shares of Eli Lilly and Company (NYSE:LLY)

Zurich Insurance Group Ltd FI reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 28.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 212,233 shares of the company’s stock after selling 83,562 shares during the period. Eli Lilly and Company makes up approximately 1.6% of Zurich Insurance Group Ltd FI’s holdings, making the stock its 10th biggest holding. Zurich Insurance Group Ltd FI’s holdings in Eli Lilly and Company were worth $188,026,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth $30,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the second quarter worth $36,000. Cedar Mountain Advisors LLC lifted its holdings in shares of 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 buying an additional 16 shares in the last quarter. Finally, Morton Brown Family Wealth LLC lifted its holdings in shares of Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the subject of a number of research reports. Bank of America dropped their target price on 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. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Truist Financial lifted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Up 0.1 %

Shares of NYSE LLY opened at $826.66 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market cap of $784.76 billion, a price-to-earnings ratio of 89.37, a PEG ratio of 3.14 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The stock has a 50-day moving average price of $843.71 and a two-hundred day moving average price of $870.75.

Eli Lilly and Company (NYSE:LLY) last released its quarterly 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 firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

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.