Legal & General Group Plc Purchases Shares of 52,301 Lemonade, Inc. $LMND

Legal & General Group Plc purchased a new position in shares of Lemonade, Inc. (NYSE:LMND) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 52,301 shares of the company’s stock, valued at approximately $3,402,000.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of Lemonade by 8,080.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after buying an additional 404 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Lemonade during the fourth quarter valued at approximately $33,000. NewEdge Advisors LLC purchased a new position in Lemonade during the first quarter valued at approximately $35,000. Strive Financial Group LLC acquired a new position in Lemonade in the fourth quarter valued at approximately $38,000. Finally, State of Wyoming acquired a new position in Lemonade in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Stock Down 3.3%

Lemonade stock opened at $53.27 on Friday. The company has a fifty day simple moving average of $58.99 and a 200-day simple moving average of $58.71. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of -29.11 and a beta of 1.87. Lemonade, Inc. has a 52-week low of $46.16 and a 52-week high of $99.90.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, hitting the consensus estimate of ($0.56). The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. The company’s revenue for the quarter was up 79.4% on a year-over-year basis. During the same period last year, the firm posted ($0.60) earnings per share. On average, research analysts anticipate that Lemonade, Inc. will post -1.85 EPS for the current fiscal year.

Insider Buying and Selling at Lemonade

In other Lemonade news, insider John Peters sold 11,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the completion of the sale, the insider owned 76,942 shares of the company’s stock, valued at $4,043,302.10. This trade represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LMND has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. TD Cowen restated a “hold” rating on shares of Lemonade in a research report on Monday, June 8th. Morgan Stanley cut their price objective on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th. Finally, Piper Sandler decreased their price objective on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lemonade presently has an average rating of “Hold” and an average target price of $64.50.

Lemonade 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.