Renasant Bank Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Renasant Bank trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,351 shares of the company’s stock after selling 45 shares during the quarter. Renasant Bank’s holdings in Eli Lilly and Company were worth $1,043,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LLY. Proficio Capital Partners LLC boosted its position in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $1,240,653,000. Parnassus Investments LLC boosted its holdings in shares of Eli Lilly and Company by 38,959.8% in the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after buying an additional 932,309 shares in the last quarter. Essential Planning LLC. grew its position in shares of Eli Lilly and Company by 6,406.9% in the 4th quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock worth $593,544,000 after buying an additional 705,076 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in shares of Eli Lilly and Company by 37,140.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after acquiring an additional 692,303 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were 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 owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a report on Thursday, March 6th. Citigroup dropped their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Wells Fargo & Company boosted their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $798.39 on Friday. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The stock has a market cap of $757.01 billion, a PE ratio of 68.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The business has a 50-day simple moving average of $830.18 and a 200-day simple moving average of $844.96. 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 posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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%. On average, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.