Assenagon Asset Management S.A. 13F: Adds $329M to LLY Stake

Assenagon Asset Management S.A. expanded its investment in Eli Lilly and Company (NYSE: LLY) during the third quarter, raising its total share count significantly. According to a Form 13F filing with the SEC on October 15, 2026, the fund added 283,911 shares to its portfolio. Because 13F reports look backward at a prior quarter, keep in mind that these filings show holdings as of the reporting date and may not represent the investor's exact current position.

What Changed in Assenagon Asset Management's Eli Lilly Position

The firm lifted its holdings by 56.7% compared to the prior period. Assenagon ended the quarter with 784,936 shares of the drug manufacturer. The reported value of this stake reached $908,233,747. This sizable addition points to growing conviction in the healthcare provider's market position.

Other Institutional Activity in Eli Lilly

Other large institutional players also managed their positions around the same time. Lilly Endowment, Inc reduced its holdings by 1,516,238 shares, ending with 90,376,978 shares worth about $113,606,575,303. Blackrock Inc. grew its holdings by 1,161,629 shares, ending with 67,540,400 shares worth about $84,900,310,990. Vanguard Capital Management LLC grew its holdings by 165,427 shares, ending with 53,528,868 shares worth about $67,287,394,510. PNC Financial Services Group, Inc. reduced its holdings by 5,133 shares, ending with 51,322,720 shares worth about $64,514,200,225. State Street Corporation grew its holdings by 605,376 shares, ending with 36,215,754 shares worth about $45,524,290,311.

Eli Lilly and Company Stock Up 3.9%

Eli Lilly shares recently traded around $1,255.32 as of October 16, 2026. The stock sits about 2.9% below its 52-week high of $1,292.65 and trades well above its 200-day moving average of $1,079.02. Analysts currently hold a consensus buy rating on the shares, with a mean price target of $1,328.05.

Recent Earnings

For its trailing twelve months, the company brought in $79.67 billion in revenue and posted earnings of $29.79 per share. Profitability remains strong, backed by a net margin of 33.5% and a return on equity of 102.3%. The company's next earnings report is scheduled for October 29, 2026.

Dividend

Eli Lilly pays an annual dividend yielding 0.55%, supported by a payout ratio of 21.7%.

Insider Buying and Selling at Eli Lilly and Company

Company insiders trimmed their holdings in a series of transactions over the summer. On June 10, 2026, Officer Ilya Yuffa sold 2,500 shares at an average price of $1,150.77, totaling $2,876,925. Later, on August 7, 2026, General Counsel Anat Hakim sold 5,000 shares at $1,190.00 for a total value of $5,950,000. Officer Donald A Zakrowski sold 2,000 shares on August 10, 2026, at an average price of $1,185.01, amounting to $2,370,020. Finally, Officer Patrik Jonsson sold 6,500 shares on August 17, 2026, at an average price of $1,175.10, totaling $7,638,150.

Analysts Set New Price Targets

Wall Street firms continue to update their views on the stock. On September 22, 2026, TD Cowen reiterated its buy rating with a $1,250.00 price target. JP Morgan maintained its overweight rating on September 28, 2026, while raising its target from $1,400.00 to $1,500.00. Morgan Stanley maintained an overweight rating on October 7, 2026, lifting its target to $1,430.00 from $1,419.00. Cantor Fitzgerald maintained an overweight rating on October 8, 2026, raising its target from $1,410.00 to $1,440.00. RBC Capital reiterated its outperform rating on October 12, 2026, keeping its target at $1,500.00.

About Eli Lilly and Company

Eli Lilly discovers, develops, and markets human pharmaceutical products globally. Headquartered in Indianapolis, Indiana, the firm focuses on major therapeutic areas including diabetes, oncology, and immunology. Institutional interest remains high as the company develops and supplies widely used brand-name treatments.

Bottom Line

Assenagon's larger stake reflects strong institutional backing heading into the back half of the year. Investors will look closely at the upcoming October earnings release for updates on product demand and revenue growth. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.