Charles Schwab Investment Management Inc. Increases Stock Position in LendingClub Co. (NYSE:LC)

Charles Schwab Investment Management Inc. lifted its holdings in shares of LendingClub Co. (NYSE:LC) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 924,843 shares of the credit services provider’s stock after buying an additional 23,486 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.82% of LendingClub worth $14,973,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC lifted its stake in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after purchasing an additional 1,975 shares in the last quarter. New York State Common Retirement Fund lifted its stake in LendingClub by 7.3% in the 4th quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock worth $475,000 after purchasing an additional 2,000 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of LendingClub in the 4th quarter worth $45,000. Finally, XTX Topco Ltd increased its holdings in shares of LendingClub by 55.4% in the 3rd quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider’s stock worth $226,000 after buying an additional 7,054 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, LendingClub currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

LendingClub Stock Performance

LC stock opened at $11.08 on Friday. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The firm’s fifty day moving average is $13.51 and its 200 day moving average is $13.88. The firm has a market cap of $1.26 billion, a P/E ratio of 24.61 and a beta of 2.07.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the sale, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This represents a 1.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were purchased at an average cost of $12.88 per share, with a total value of $257,600.00. Following the transaction, the director now directly owns 148,018 shares in the company, valued at $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 41,000 shares of company stock valued at $606,660. Insiders own 3.31% of the company’s stock.

LendingClub Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.