Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,044 shares of the company’s stock after buying an additional 3,644 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Eli Lilly and Company were worth $51,424,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mattern Capital Management LLC bought a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $222,000. Vident Advisory LLC boosted its position in Eli Lilly and Company by 10.0% during the 1st quarter. Vident Advisory LLC now owns 18,651 shares of the company’s stock valued at $14,511,000 after acquiring an additional 1,688 shares in the last quarter. Wellington Wealth Strategies LLC. purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at $14,248,000. Axxcess Wealth Management LLC raised its position in shares of Eli Lilly and Company by 4.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 24,658 shares of the company’s stock worth $19,183,000 after acquiring an additional 981 shares in the last quarter. Finally, First Commonwealth Financial Corp PA lifted its stake in shares of Eli Lilly and Company by 118.7% during the 1st quarter. First Commonwealth Financial Corp PA now owns 1,568 shares of the company’s stock worth $1,220,000 after purchasing an additional 851 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.3 %

Eli Lilly and Company stock opened at $729.62 on Wednesday. The firm has a market cap of $692.64 billion, a PE ratio of 78.88, a P/E/G ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The stock’s 50 day simple moving average is $875.60 and its two-hundred day simple moving average is $870.81. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Citigroup lifted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Barclays lowered their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Bank of America reduced their price target on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

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.