Kentucky Retirement Systems Insurance Trust Fund Purchases 11,754 Shares of Eli Lilly and Company (NYSE:LLY)

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 50.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,110 shares of the company’s stock after acquiring an additional 11,754 shares during the period. Eli Lilly and Company comprises 2.4% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 4th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Eli Lilly and Company were worth $27,105,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth about $30,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the period. Finally, Compass Financial Services Inc purchased a new stake in Eli Lilly and Company during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.6 %

Eli Lilly and Company stock opened at $857.38 on Wednesday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The stock has a 50 day moving average of $796.41 and a two-hundred day moving average of $845.73. 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 stock has a market capitalization of $813.93 billion, a price-to-earnings ratio of 73.22, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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%. As a group, research analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Eli Lilly and Company announced that its board has approved a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

LLY has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price objective on 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. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock 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.