Fifth Third Bancorp Takes $1.79 Million Position in Lemonade, Inc. $LMND

Fifth Third Bancorp acquired a new position in Lemonade, Inc. (NYSE:LMND - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 28,612 shares of the company's stock, valued at approximately $1,793,000.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Lemonade by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company's stock valued at $958,000 after acquiring an additional 15,779 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Lemonade by 255.2% in the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company's stock worth $10,370,000 after purchasing an additional 237,044 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Lemonade in the 1st quarter worth approximately $35,000. Goldman Sachs Group Inc. lifted its stake in Lemonade by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company's stock valued at $19,244,000 after purchasing an additional 41,759 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Lemonade during the second quarter valued at approximately $307,000. Institutional investors and hedge funds own 80.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. TD Cowen reaffirmed a "hold" rating on shares of Lemonade in a report on Monday, June 8th. Keefe, Bruyette & Woods lifted their target price on Lemonade from $44.00 to $48.00 and gave the stock an "underperform" rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lemonade in a research report on Friday, July 17th. Piper Sandler upped their target price on Lemonade from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, UBS Group set a $75.00 target price on Lemonade in a report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Lemonade presently has an average rating of "Hold" and an average price target of $66.78.

Lemonade Stock Performance

Lemonade stock opened at $63.44 on Thursday. The company has a 50 day moving average price of $60.99 and a 200 day moving average price of $64.58. Lemonade, Inc. has a 52 week low of $35.70 and a 52 week high of $99.90. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -33.92 and a beta of 1.79.

Lemonade (NYSE:LMND - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.11. The company had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. Lemonade had a negative net margin of 16.44% and a negative return on equity of 26.52%. The company's revenue was up 70.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.86) EPS. Equities analysts forecast that Lemonade, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total transaction of $64,867.40. Following the completion of the sale, the insider directly owned 187,573 shares in the company, valued at approximately $9,973,256.41. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of Lemonade stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $52.94, for a total value of $191,007.52. Following the transaction, the insider directly owned 81,386 shares in the company, valued at approximately $4,308,574.84. This trade represents a 4.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 10,007 shares of company stock worth $620,201 over the last three months. 12.20% of the stock is owned by insiders.

Lemonade Company Profile

Lemonade, Inc NYSE: LMND is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company's product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.

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