Eli Lilly and Company $LLY Stock Position Trimmed by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in Eli Lilly by 0.6%, retaining 1.59 million shares valued at approximately $1.32 billion, making it the 6th largest position in their portfolio.
• Eli Lilly reported strong earnings with a net revenue of $15.56 billion for the last quarter, surpassing analyst expectations and showing a 37.6% year-over-year increase.
• The company has announced a quarterly dividend of $1.50 per share, which is set to be paid on September 10, contributing to an annualized dividend yield of 0.8%.

The Manufacturers Life Insurance Company lessened its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,592,831 shares of the company's stock after selling 10,224 shares during the quarter. Eli Lilly and Company comprises 1.2% of The Manufacturers Life Insurance Company's portfolio, making the stock its 6th biggest holding. The Manufacturers Life Insurance Company owned approximately 0.17% of Eli Lilly and Company worth $1,315,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LLY. Corient IA LLC bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $570,000. LS Investment Advisors LLC lifted its stake in shares of Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after acquiring an additional 40 shares during the last quarter. Prism Advisors Inc. bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $207,000. Hemington Wealth Management lifted its stake in shares of Eli Lilly and Company by 14.4% during the 1st quarter. Hemington Wealth Management now owns 985 shares of the company's stock worth $813,000 after acquiring an additional 124 shares during the last quarter. Finally, Bfsg LLC lifted its stake in shares of Eli Lilly and Company by 1.4% during the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 0.1%

Shares of NYSE:LLY traded up $0.45 on Friday, reaching $732.41. The company had a trading volume of 2,548,350 shares, compared to its average volume of 6,895,566. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $969.65. The firm's 50 day simple moving average is $748.68 and its 200-day simple moving average is $785.49. The firm has a market capitalization of $693.20 billion, a PE ratio of 47.87, a PEG ratio of 1.02 and a beta of 0.44. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period last year, the business posted $3.92 EPS. The business's revenue was up 37.6% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 39.22%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LLY. Daiwa Capital Markets lowered Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price target for the company. in a research note on Sunday, August 17th. UBS Group decreased their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Leerink Partners reaffirmed a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Leerink Partnrs lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald decreased their target price on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus price target of $950.17.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CEO David A. Ricks bought 1,632 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares of the company's stock, valued at approximately $352,431,926.77. This represents a 0.30% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Skovronsky bought 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the transaction, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. This represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 4,514 shares of company stock worth $2,894,841 over the last ninety days. Corporate insiders own 0.13% of the company's stock.

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.