From MarketBeat:

Conning Inc. reduced its stake in Eli Lilly and Company by 11.9% during the third quarter, selling 1,671 shares and retaining 12,426 shares worth $6,674,000. A variety of other major investors also made changes to their holdings of LLY, boosting positions and buying new shares. Shares of Eli Lilly and Company trade on the New York Stock Exchange under the ticker symbol LLY. It opened at $625.88 on Tuesday and has a 52-week high of $636.41 and low of $309.20. Institutional investors hold 81.38% of the company’s stock.

Eli Lilly and Company recently reported earnings of $0.10 per share, exceeding analysts’ projections of ($0.08) by $0.18. The company had revenue of $9.50 billion for the quarter, versus estimates of $8.88 billion. It anticipates posting 6.6 EPS for the current year. On Monday, March 4th, Eli Lilly and Company will pay a quarterly dividend of $1.30 to shareholders of record on Thursday, February 15th. The company increased its dividend from a previous $1.13, resulting in expected annualized dividends of $5.20 and a 0.83% yield. Insider activity includes CAO Donald A. Zakrowski selling 670 shares in a transaction valued at $382,637.

Multiple research firms have weighed in on LLY, with Citigroup increasing its target price to $675 and Deutsche Bank Aktiengesellschaft issuing a “hold” rating with a $535 price objective. Morgan Stanley set a target price between $727 and $822 and StockNews.com upgraded Eli Lilly and Company to a “buy” rating. The stock currently has an average “Moderate Buy” rating and a mean target price of $583.24.

Eli Lilly and Company, traded as LLY on the NYSE, discovers, develops, and markets human pharmaceuticals, offering medications for diabetes such as Basaglar, Jardiance, and Trajenta. It also provides solutions for insulin handling and administration, including insulin lispro and insulin lispro protamine. Other offerings include Humalog, Humalog Mix, and Humalog U.

MarketBeat generated its instant news alert using narrative science technology and financial data, providing readers with fast and accurate reporting. The story was reviewed by MarketBeat’s editorial team prior to publication. For questions or comments, email [email protected].

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Read more: Conning Inc. Trims Stock Position in Eli Lilly and Company (NYSE:LLY)