Cigna Investments Inc. New Has $7.33 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Cigna Investments Inc. New lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,279 shares of the company’s stock after selling 532 shares during the quarter. Eli Lilly and Company makes up about 1.3% of Cigna Investments Inc. New’s investment portfolio, making the stock its 12th largest position. Cigna Investments Inc. New’s holdings in Eli Lilly and Company were worth $7,334,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the second quarter worth about $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Morton Brown Family Wealth LLC lifted its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the period. Cedar Mountain Advisors LLC boosted its stake in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $829.84 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 1-year low of $547.61 and a 1-year high of $972.53. The stock has a market capitalization of $788.70 billion, a P/E ratio of 89.71, a P/E/G ratio of 3.07 and a beta of 0.42. The business has a 50-day moving average price of $913.71 and a two-hundred day moving average price of $864.86.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 73.73% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 13.79 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis 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%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BMO Capital Markets increased their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Barclays dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday. Guggenheim boosted 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 research report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.00.

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.