Public Sector Pension Investment Board Sells 119,553 Shares of Eli Lilly and Company (NYSE:LLY)

Public Sector Pension Investment Board decreased its position in Eli Lilly and Company (NYSE:LLY) by 24.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 361,455 shares of the company’s stock after selling 119,553 shares during the period. Eli Lilly and Company comprises about 2.0% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 7th biggest holding. Public Sector Pension Investment Board’s holdings in Eli Lilly and Company were worth $327,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Twelve Points Wealth Management LLC boosted its stake in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after purchasing an additional 11 shares during the period. Verum Partners LLC lifted its holdings in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares in the last quarter. Acorn Creek Capital LLC boosted its position in shares of Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after buying an additional 12 shares during the period. Thompson Davis & CO. Inc. raised its position in Eli Lilly and Company by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after buying an additional 12 shares during the last quarter. Finally, O Brien Greene & Co. Inc lifted its stake in Eli Lilly and Company by 1.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock valued at $865,000 after acquiring an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LLY shares. Berenberg Bank raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Bank of America increased their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup assumed coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Trading Up 0.7 %

Shares of LLY stock opened at $921.49 on Monday. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The company has a market capitalization of $875.79 billion, a PE ratio of 135.71, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The firm has a 50 day moving average price of $895.06 and a two-hundred day moving average price of $838.73. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 425,000 shares of company stock worth $394,455,351. Corporate insiders own 0.13% of the company’s stock.

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.