The Manufacturers Life Insurance Company acquired a new position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,071 shares of the company's stock, valued at approximately $2,737,000. The Manufacturers Life Insurance Company owned about 0.05% of Lemonade at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in Lemonade by 8,080.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company's stock valued at $29,000 after purchasing an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Lemonade during the fourth quarter worth approximately $33,000. NewEdge Advisors LLC acquired a new position in Lemonade during the first quarter worth approximately $35,000. Strive Financial Group LLC bought a new stake in Lemonade in the fourth quarter valued at approximately $38,000. Finally, State of Wyoming bought a new stake in Lemonade in the first quarter valued at approximately $42,000. 80.30% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on LMND. Wall Street Zen downgraded Lemonade from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Keefe, Bruyette & Woods upgraded Lemonade from an "underperform" rating to a "market perform" rating and set a $48.00 price target on the stock in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lemonade in a report on Friday, July 17th. Morgan Stanley reduced their price objective on shares of Lemonade from $65.00 to $56.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 19th. Finally, UBS Group set a $75.00 price objective on shares of Lemonade in a report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $64.50.
View Our Latest Stock Analysis on Lemonade
Insider Buying and Selling
In other Lemonade news, insider John Sheldon Peters sold 11,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the transaction, the insider directly owned 76,942 shares of the company's stock, valued at $4,043,302.10. This represents a 12.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 12.20% of the stock is currently owned by corporate insiders.
Lemonade Stock Up 3.1%
Shares of LMND stock opened at $52.96 on Thursday. Lemonade, Inc. has a 12-month low of $46.16 and a 12-month high of $99.90. The company has a market capitalization of $4.10 billion, a PE ratio of -28.94 and a beta of 1.87. The firm has a 50 day moving average price of $59.12 and a two-hundred day moving average price of $58.81.
Lemonade (NYSE:LMND - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, meeting the consensus estimate of ($0.56). The company had revenue of $294.40 million for the quarter, compared to the consensus estimate of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The firm's revenue for the quarter was up 79.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.60) earnings per share. As a group, research analysts expect that Lemonade, Inc. will post -1.85 EPS for the current year.
About Lemonade
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding LMND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lemonade, Inc. (NYSE:LMND - Free Report).
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