Legal & General Group Plc Sells 1,401,743 Shares of Eli Lilly and Company (NYSE:LLY)

Legal & General Group Plc lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 20.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,585,045 shares of the company’s stock after selling 1,401,743 shares during the period. Eli Lilly and Company comprises about 1.1% of Legal & General Group Plc’s portfolio, making the stock its 11th biggest position. Legal & General Group Plc’s holdings in Eli Lilly and Company were worth $4,311,655,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LLY. ADAR1 Capital Management LLC increased its position in Eli Lilly and Company by 17.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,350 shares of the company’s stock valued at $1,042,000 after purchasing an additional 200 shares during the period. Employees Retirement System of Texas boosted its position in shares of Eli Lilly and Company by 6.1% during the 4th quarter. Employees Retirement System of Texas now owns 205,168 shares of the company’s stock valued at $158,390,000 after purchasing an additional 11,816 shares in the last quarter. Bell Asset Management Ltd bought a new stake in Eli Lilly and Company in the fourth quarter worth approximately $4,352,000. Sierra Summit Advisors LLC grew its position in shares of Eli Lilly and Company by 19.4% during the 4th quarter. Sierra Summit Advisors LLC now owns 10,856 shares of the company’s stock worth $8,381,000 after buying an additional 1,767 shares during the period. Finally, Trek Financial LLC boosted its holdings in Eli Lilly and Company by 20.4% in the fourth quarter. Trek Financial LLC now owns 2,296 shares of the company’s stock worth $1,773,000 after acquiring an additional 389 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LLY shares. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Truist Financial raised their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Trading Down 6.5 %

Shares of LLY opened at $737.56 on Monday. The firm’s 50 day simple moving average is $848.36 and its 200 day simple moving average is $831.41. The company has a market capitalization of $699.33 billion, a P/E ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 1-year low of $692.96 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs 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.