PNC Financial Services Group Inc. Raises Position in Lemonade, Inc. (NYSE:LMND)

PNC Financial Services Group Inc. lifted its position in Lemonade, Inc. (NYSE:LMND) by 116.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,596 shares of the company’s stock after buying an additional 860 shares during the period. PNC Financial Services Group Inc.’s holdings in Lemonade were worth $59,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC purchased a new position in shares of Lemonade in the fourth quarter worth $40,000. Union Bancaire Privee UBP SA purchased a new position in Lemonade in the 4th quarter worth about $67,000. US Bancorp DE raised its position in Lemonade by 574.5% in the 4th quarter. US Bancorp DE now owns 1,875 shares of the company’s stock worth $69,000 after buying an additional 1,597 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Lemonade by 321.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,462 shares of the company’s stock valued at $74,000 after acquiring an additional 3,403 shares during the period. Finally, KBC Group NV purchased a new stake in shares of Lemonade during the 4th quarter valued at about $80,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Performance

LMND stock opened at $34.32 on Thursday. The company’s fifty day moving average price is $34.53 and its 200-day moving average price is $31.64. Lemonade, Inc. has a one year low of $14.03 and a one year high of $53.85. The company has a market capitalization of $2.50 billion, a PE ratio of -11.29 and a beta of 2.12.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.19. The business had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. On average, research analysts predict that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price objective on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Insider Transactions at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $37.08, for a total value of $7,585,641.00. Following the completion of the transaction, the insider now owns 10,494,636 shares in the company, valued at approximately $389,141,102.88. The trade was a 1.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Sheldon Peters sold 1,899 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total value of $64,167.21. Following the transaction, the insider now directly owns 87,609 shares in the company, valued at approximately $2,960,308.11. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,459 shares of company stock valued at $8,770,658 in the last ninety days. Corporate insiders own 12.50% of the company’s stock.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.