JCIC Asset Management Inc. Increases Stake in Eli Lilly and Company (NYSE:LLY)

JCIC Asset Management Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,272 shares of the company’s stock after buying an additional 56 shares during the period. Eli Lilly and Company comprises about 1.3% of JCIC Asset Management Inc.’s portfolio, making the stock its 25th biggest position. JCIC Asset Management Inc.’s holdings in Eli Lilly and Company were worth $3,298,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Clean Yield Group boosted its position in shares of Eli Lilly and Company by 1.0% during the 4th quarter. Clean Yield Group now owns 3,656 shares of the company’s stock worth $2,822,000 after acquiring an additional 37 shares in the last quarter. Cooper Financial Group raised its holdings in Eli Lilly and Company by 35.5% during the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after purchasing an additional 695 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Eli Lilly and Company by 8.8% during the 4th quarter. Wedmont Private Capital now owns 14,149 shares of the company’s stock worth $11,318,000 after buying an additional 1,147 shares during the last quarter. Talbot Financial LLC boosted its holdings in shares of Eli Lilly and Company by 24.6% in the 4th quarter. Talbot Financial LLC now owns 21,276 shares of the company’s stock valued at $16,425,000 after buying an additional 4,199 shares in the last quarter. Finally, Asset Allocation & Management Company LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at $262,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $1.82 during mid-day trading on Monday, hitting $801.72. 2,260,002 shares of the company were exchanged, compared to its average volume of 2,978,487. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53. The company has a market capitalization of $761.09 billion, a P/E ratio of 86.67, a PEG ratio of 2.99 and a beta of 0.41. The business’s 50 day simple moving average is $786.08 and its two-hundred day simple moving average is $859.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. Analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.75%. Eli Lilly and Company’s payout ratio is 64.86%.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on LLY shares. Citigroup upped their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Barclays dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.