Allianz SE Acquires Shares of 37,877 Eli Lilly and Company (NYSE:LLY)

Allianz SE bought a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 37,877 shares of the company’s stock, valued at approximately $29,310,000. Eli Lilly and Company makes up approximately 0.8% of Allianz SE’s portfolio, making the stock its 24th biggest position.

Other institutional investors have also recently modified their holdings of the company. Valley Forge Investment Consultants Inc. ADV purchased a new position in Eli Lilly and Company during the fourth quarter valued at $103,000. Accent Capital Management LLC raised its position in shares of Eli Lilly and Company by 168.0% during the 4th quarter. Accent Capital Management LLC now owns 5,886 shares of the company’s stock worth $4,544,000 after purchasing an additional 3,690 shares during the last quarter. Hobbs Group Advisors LLC lifted its stake in Eli Lilly and Company by 5.0% in the 4th quarter. Hobbs Group Advisors LLC now owns 272 shares of the company’s stock valued at $210,000 after buying an additional 13 shares in the last quarter. Biondo Investment Advisors LLC boosted its holdings in Eli Lilly and Company by 0.7% in the 4th quarter. Biondo Investment Advisors LLC now owns 17,941 shares of the company’s stock worth $13,851,000 after buying an additional 117 shares during the last quarter. Finally, Allstate Corp increased its stake in Eli Lilly and Company by 3,191.1% during the 4th quarter. Allstate Corp now owns 23,992 shares of the company’s stock worth $18,522,000 after buying an additional 23,263 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LLY. Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. 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. Truist Financial boosted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $820.30 on Friday. The stock has a fifty day simple moving average of $844.31 and a 200-day simple moving average of $836.82. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a market cap of $777.78 billion, a PE ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

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.