The Manufacturers Life Insurance Company Increases Position in Lemonade, Inc. (NYSE:LMND)

The Manufacturers Life Insurance Company grew its position in Lemonade, Inc. (NYSE:LMND) by 7.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 31,000 shares of the company’s stock after acquiring an additional 2,209 shares during the period. The Manufacturers Life Insurance Company’s holdings in Lemonade were worth $1,137,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in Lemonade in the fourth quarter valued at $2,712,000. Mandatum Life Insurance Co Ltd purchased a new position in shares of Lemonade in the 4th quarter valued at about $378,000. Watershed Private Wealth LLC acquired a new stake in shares of Lemonade during the 4th quarter worth about $286,000. Woodward Diversified Capital LLC purchased a new stake in Lemonade during the fourth quarter worth approximately $381,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Lemonade by 4.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,640 shares of the company’s stock valued at $390,000 after purchasing an additional 500 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler dropped their price target on shares of Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods lowered their target price on shares of Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley lowered shares of Lemonade from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $35.00 to $24.00 in a research note on Tuesday, April 8th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Lemonade currently has a consensus rating of “Hold” and a consensus price target of $28.17.

Lemonade Stock Up 2.0%

NYSE:LMND opened at $32.60 on Wednesday. The company has a market capitalization of $2.39 billion, a PE ratio of -10.72 and a beta of 2.13. Lemonade, Inc. has a 52-week low of $14.03 and a 52-week high of $53.85. The stock’s 50 day moving average price is $30.73 and its 200 day moving average price is $34.41.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. Lemonade’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.67) EPS. As a group, sell-side analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Softbank Group Capital Ltd sold 42,160 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total value of $1,569,195.20. Following the transaction, the insider now owns 10,452,476 shares of the company’s stock, valued at approximately $389,041,156.72. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 1,899 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.79, for a total value of $64,167.21. Following the sale, the insider now directly owns 87,609 shares of the company’s stock, valued at approximately $2,960,308.11. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,857,608 shares of company stock worth $58,570,645 in the last 90 days. Company insiders own 14.70% of the company’s stock.

About Lemonade

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.