Allstate Corp Has $18.52 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Allstate Corp raised its position in Eli Lilly and Company (NYSE:LLY) by 3,191.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,992 shares of the company’s stock after purchasing an additional 23,263 shares during the quarter. Eli Lilly and Company accounts for 0.5% of Allstate Corp’s investment portfolio, making the stock its 23rd largest holding. Allstate Corp’s holdings in Eli Lilly and Company were worth $18,522,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LLY. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after buying an additional 475,530 shares in the last quarter. Geode Capital Management LLC lifted its position in Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after buying an additional 85,823 shares in the last quarter. Norges Bank bought a new stake in Eli Lilly and Company during the 4th quarter worth about $8,407,908,000. Fisher Asset Management LLC increased its position in Eli Lilly and Company by 3.5% in the 4th quarter. Fisher Asset Management LLC now owns 5,236,108 shares of the company’s stock valued at $4,042,276,000 after acquiring an additional 178,007 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Wells Fargo & Company boosted their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Citigroup decreased their price target on 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. Finally, Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $820.30 on Friday. The stock has a market cap of $777.78 billion, a P/E ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company has a fifty day simple moving average of $844.31 and a 200 day simple moving average of $836.82.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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, research 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 initiated a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.