Acadian Asset Management LLC Has $71 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Acadian Asset Management LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 112.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,428 shares of the company’s stock after buying an additional 41,531 shares during the quarter. Acadian Asset Management LLC’s holdings in Eli Lilly and Company were worth $70,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Independent Advisor Alliance boosted its holdings in Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after acquiring an additional 544 shares during the period. Apexium Financial LP lifted its holdings in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after buying an additional 10,842 shares during the last quarter. Capital Planning LLC bought a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Eli Lilly and Company in the first quarter worth $6,916,000. Finally, M&G Plc bought a new position in Eli Lilly and Company during the first quarter worth $8,896,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LLY. Guggenheim increased 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 report on Friday, August 16th. BMO Capital Markets boosted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday. Bank of America boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group raised their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Stock Down 1.1 %

Shares of LLY opened at $902.71 on Friday. The company has a market capitalization of $857.94 billion, a P/E ratio of 132.95, a PEG ratio of 2.91 and a beta of 0.42. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The business’s 50 day simple moving average is $895.97 and its 200-day simple moving average is $827.99. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. As a group, sell-side analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 75,510 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $860.78, for a total value of $64,997,497.80. Following the completion of the sale, the insider now owns 97,793,810 shares of the company’s stock, valued at $84,178,955,771.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 737,410 shares of company stock valued at $669,719,100. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.