Principal Financial Group Inc. Purchases 60,306 Shares of Eli Lilly and Company (NYSE:LLY)

Principal Financial Group Inc. increased its position in Eli Lilly and Company (NYSE:LLY) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,208,545 shares of the company’s stock after acquiring an additional 60,306 shares during the period. Principal Financial Group Inc. owned about 0.13% of Eli Lilly and Company worth $1,070,698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company during the second quarter valued at $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the second quarter worth approximately $36,000. Cedar Mountain Advisors LLC raised its holdings in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC grew its position in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter valued at $45,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Down 3.7 %

LLY stock opened at $776.47 on Thursday. The company has a market capitalization of $737.11 billion, a price-to-earnings ratio of 83.94, a PEG ratio of 3.05 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The business has a 50 day simple moving average of $901.75 and a two-hundred day simple moving average of $867.32.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Research analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LLY. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Truist Financial boosted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Guggenheim increased their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

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.