MetLife Investment Management LLC Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

MetLife Investment Management LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 236,413 shares of the company’s stock after acquiring an additional 4,370 shares during the period. Eli Lilly and Company comprises approximately 0.8% of MetLife Investment Management LLC’s holdings, making the stock its 12th largest position. MetLife Investment Management LLC’s holdings in Eli Lilly and Company were worth $110,873,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LLY. Bank Julius Baer & Co. Ltd Zurich raised its stake in Eli Lilly and Company by 533,336.4% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,059,681 shares of the company’s stock valued at $8,938,609,000 after buying an additional 19,056,108 shares during the last quarter. Norges Bank purchased a new stake in Eli Lilly and Company during the 4th quarter valued at $3,416,206,000. Moneta Group Investment Advisors LLC raised its stake in Eli Lilly and Company by 102,752.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock valued at $1,992,374,000 after buying an additional 5,440,731 shares during the last quarter. Morgan Stanley raised its stake in Eli Lilly and Company by 44.1% during the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock valued at $4,411,740,000 after buying an additional 3,691,436 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Eli Lilly and Company by 316.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,434,073 shares of the company’s stock valued at $217,569,000 after buying an additional 1,850,187 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of LLY traded up $8.19 during midday trading on Monday, hitting $599.90. 1,216,807 shares of the company traded hands, compared to its average volume of 3,095,864. The firm has a 50 day moving average of $577.98 and a 200-day moving average of $509.95. Eli Lilly and Company has a 52 week low of $309.20 and a 52 week high of $629.97. The stock has a market cap of $569.49 billion, a price-to-earnings ratio of 107.54, a PEG ratio of 3.57 and a beta of 0.33. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.82 and a current ratio of 1.05.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 14th. Eli Lilly and Company’s dividend payout ratio is 81.88%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 1,307 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $555.69, for a total transaction of $726,286.83. Following the sale, the insider now directly owns 100,397,503 shares in the company, valued at approximately $55,789,888,442.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Alonzo Weems sold 1,148 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total transaction of $678,445.04. Following the sale, the executive vice president now directly owns 7,760 shares in the company, valued at approximately $4,586,004.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 1,307 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $555.69, for a total transaction of $726,286.83. Following the completion of the sale, the insider now directly owns 100,397,503 shares in the company, valued at $55,789,888,442.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 535,538 shares of company stock worth $20,881,299,452. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LLY. Royal Bank of Canada boosted their target price on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. Credit Suisse Group boosted their price objective on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $525.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. The Goldman Sachs Group boosted their price objective on shares of Eli Lilly and Company from $385.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Finally, Citigroup boosted their price objective on shares of Eli Lilly and Company from $525.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $557.00.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.