Ilmarinen Mutual Pension Insurance Co Increases Stake in Eli Lilly and Company (NYSE:LLY)

Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 40.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 122,600 shares of the company’s stock after buying an additional 35,600 shares during the quarter. Eli Lilly and Company accounts for about 0.8% of Ilmarinen Mutual Pension Insurance Co’s investment portfolio, making the stock its 15th largest holding. Ilmarinen Mutual Pension Insurance Co’s holdings in Eli Lilly and Company were worth $94,647,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. FPC Investment Advisory Inc. boosted its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new position in Eli Lilly and Company during the 4th quarter valued at $48,000. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $50,000. Finally, Fiduciary Advisors Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. 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 report on Wednesday, March 5th. Finally, Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Down 6.5 %

LLY opened at $737.56 on Friday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week 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 firm has a 50-day simple moving average of $848.36 and a two-hundred day simple moving average of $832.44. The company has a market capitalization of $699.33 billion, a PE ratio of 62.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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%. 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 of Directors has initiated a stock buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Eli Lilly and Company

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.