AIA Group Ltd Purchases 5,530 Shares of Eli Lilly and Company (NYSE:LLY)

AIA Group Ltd lifted its position in Eli Lilly and Company (NYSE:LLY) by 26.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,690 shares of the company’s stock after acquiring an additional 5,530 shares during the quarter. AIA Group Ltd’s holdings in Eli Lilly and Company were worth $20,605,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FWG Holdings LLC grew its holdings in Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC lifted its position in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after purchasing an additional 12 shares during the period. Prestige Wealth Management Group LLC lifted its stake in shares of Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after purchasing an additional 12 shares during the period. Garner Asset Management Corp raised its holdings in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares during the period. Finally, GSG Advisors LLC raised its stake in shares of Eli Lilly and Company by 3.2% during the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after buying an additional 13 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Truist Financial boosted their price target on 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. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $820.30 on Monday. 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. The stock has a fifty day simple moving average of $844.31 and a 200-day simple moving average of $835.77. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results 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 net margin of 23.51% and a return on equity of 85.24%. 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 authorized a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.