Eli Lilly and Company (NYSE:LLY) Stock Position Cut by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lessened its stake in Eli Lilly and Company (NYSE:LLY) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 205,701 shares of the company’s stock after selling 6,532 shares during the quarter. Eli Lilly and Company comprises 1.3% of Zurich Insurance Group Ltd FI’s holdings, making the stock its 13th biggest position. Zurich Insurance Group Ltd FI’s holdings in Eli Lilly and Company were worth $158,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Knightsbridge Asset Management LLC grew its position in Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after buying an additional 15 shares in the last quarter. Centerpoint Advisory Group bought a new position in Eli Lilly and Company in the 4th quarter valued at about $514,000. Kentucky Trust Co bought a new position in Eli Lilly and Company in the 4th quarter valued at about $834,000. CSM Advisors LLC grew its position in Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after buying an additional 245 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after buying an additional 1,562 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

NYSE LLY opened at $754.95 on Tuesday. The company has a 50 day simple moving average of $796.49 and a 200-day simple moving average of $805.24. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $715.49 billion, a price-to-earnings ratio of 64.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period last year, the company earned $2.58 earnings per share. Equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.79%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LLY shares. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price objective for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,011.37.

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.