Connor Clark & Lunn Investment Management Ltd. Acquires 3,644 Shares of Eli Lilly and Company (NYSE:LLY)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,044 shares of the company’s stock after acquiring an additional 3,644 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Eli Lilly and Company were worth $51,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. Finally, Morton Brown Family Wealth LLC boosted its position in shares of Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.3 %

Shares of NYSE LLY opened at $729.62 on Wednesday. The firm’s 50-day moving average price is $875.60 and its 200-day moving average price is $870.81. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The stock has a market capitalization of $692.64 billion, a price-to-earnings ratio of 78.88, a P/E/G ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the company posted $0.10 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LLY. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

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.