Allstate Corp Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Allstate Corp boosted its position in Eli Lilly and Company (NYSE:LLY) by 3,191.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,992 shares of the company’s stock after purchasing an additional 23,263 shares during the period. Eli Lilly and Company comprises approximately 0.5% of Allstate Corp’s holdings, making the stock its 23rd largest position. Allstate Corp’s holdings in Eli Lilly and Company were worth $18,522,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Eli Lilly and Company during the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC grew its stake in shares of Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after buying an additional 5,197,038 shares during the period. Raymond James Financial Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $1,240,653,000. Parnassus Investments LLC grew its holdings in shares of Eli Lilly and Company by 38,959.8% during the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock worth $721,590,000 after purchasing an additional 932,309 shares during the period. Finally, Polen Capital Management LLC increased its position in shares of Eli Lilly and Company by 164.4% in the fourth quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock worth $1,000,040,000 after acquiring an additional 805,434 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of LLY opened at $820.30 on Friday. The business’s 50-day moving average is $844.31 and its 200-day moving average is $836.82. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a market capitalization of $777.78 billion, a price-to-earnings ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

LLY has been the subject of several recent research reports. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup cut 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 report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred 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. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.