Sentry Investment Management LLC Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Sentry Investment Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,272 shares of the company’s stock after selling 49 shares during the quarter. Eli Lilly and Company accounts for about 1.2% of Sentry Investment Management LLC’s holdings, making the stock its 12th biggest holding. Sentry Investment Management LLC’s holdings in Eli Lilly and Company were worth $2,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. AMF Tjanstepension AB lifted its position in Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares during the last quarter. Values Added Financial LLC raised its stake in shares of Eli Lilly and Company by 4.9% during the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after acquiring an additional 17 shares in the last quarter. Covenant Partners LLC raised its stake in shares of Eli Lilly and Company by 436.6% during the third quarter. Covenant Partners LLC now owns 5,371 shares of the company’s stock worth $4,758,000 after acquiring an additional 4,370 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 5.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,848 shares of the company’s stock worth $1,638,000 after acquiring an additional 89 shares during the last quarter. Finally, National Mutual Insurance Federation of Agricultural Cooperatives purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $15,061,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $881.83 on Tuesday. The company has a 50-day simple moving average of $803.38 and a two-hundred day simple moving average of $847.92. 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 $836.12 billion, a PE ratio of 75.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 51.24%.

Analysts Set New Price Targets

A number of equities analysts recently commented on LLY shares. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Citigroup decreased their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Barclays lowered their target price on 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. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

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.