DnB Asset Management AS Decreases Stake in Eli Lilly and Company (NYSE:LLY)

DnB Asset Management AS trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 5.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 333,008 shares of the company’s stock after selling 18,891 shares during the period. Eli Lilly and Company comprises about 1.1% of DnB Asset Management AS’s portfolio, making the stock its 13th largest holding. DnB Asset Management AS’s holdings in Eli Lilly and Company were worth $257,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in shares of Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after buying an additional 60,306 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 45.2% during the 3rd quarter. Penserra Capital Management LLC now owns 870 shares of the company’s stock worth $770,000 after purchasing an additional 271 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in Eli Lilly and Company by 24.7% during the third quarter. Loomis Sayles & Co. L P now owns 1,869 shares of the company’s stock valued at $1,656,000 after purchasing an additional 370 shares in the last quarter. Quantbot Technologies LP grew its stake in Eli Lilly and Company by 115.3% in the third quarter. Quantbot Technologies LP now owns 3,757 shares of the company’s stock valued at $3,328,000 after purchasing an additional 2,012 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Eli Lilly and Company in the third quarter worth about $881,000. Institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LLY shares. Citigroup cut their price target on shares of 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. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Down 0.6 %

Shares of LLY opened at $822.14 on Friday. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a market capitalization of $779.52 billion, a PE ratio of 70.21, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The stock has a fifty day simple moving average of $842.43 and a two-hundred day simple moving average of $837.43. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.