Fifth Third Bancorp Takes Position in Lemonade, Inc. $LMND

Fifth Third Bancorp purchased a new position in Lemonade, Inc. (NYSE:LMND) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 28,612 shares of the company’s stock, valued at approximately $1,793,000.

Several other hedge funds and other institutional investors have also modified their holdings of LMND. TD Waterhouse Canada Inc. increased its position in Lemonade by 3.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,671 shares of the company’s stock worth $261,000 after purchasing an additional 121 shares during the last quarter. Watershed Private Wealth LLC raised its position in Lemonade by 1.7% during the fourth quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares in the last quarter. AQR Capital Management LLC raised its position in Lemonade by 0.7% during the fourth quarter. AQR Capital Management LLC now owns 21,569 shares of the company’s stock valued at $1,535,000 after acquiring an additional 159 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Lemonade by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company’s stock valued at $600,000 after acquiring an additional 219 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Lemonade by 7.2% in the fourth quarter. GAMMA Investing LLC now owns 3,529 shares of the company’s stock worth $251,000 after acquiring an additional 236 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Stock Performance

NYSE LMND opened at $63.44 on Thursday. The stock has a 50-day simple moving average of $60.99 and a 200 day simple moving average of $64.58. Lemonade, Inc. has a twelve month low of $35.70 and a twelve month high of $99.90. The stock has a market capitalization of $4.87 billion, a PE ratio of -33.92 and a beta of 1.79.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The company had revenue of $258.00 million for the quarter, compared to the consensus estimate of $251.51 million. During the same period in the previous year, the business posted ($0.86) EPS. The company’s revenue for the quarter was up 70.6% on a year-over-year basis. As a group, equities research analysts forecast that Lemonade, Inc. will post -1.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on LMND. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. TD Cowen reiterated a “hold” rating on shares of Lemonade in a report on Monday, June 8th. Morgan Stanley restated an “equal weight” rating and set a $75.00 target price on shares of Lemonade in a report on Wednesday, July 8th. UBS Group set a $75.00 price target on Lemonade in a research note on Thursday, May 21st. Finally, Keefe, Bruyette & Woods raised their price objective on Lemonade from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $66.78.

Insiders Place Their Bets

In other news, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total transaction of $64,867.40. Following the transaction, the insider owned 187,573 shares in the company, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 3,608 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $52.94, for a total transaction of $191,007.52. Following the transaction, the insider directly owned 81,386 shares of the company’s stock, valued at $4,308,574.84. This represents a 4.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 10,007 shares of company stock worth $620,201 in the last ninety days. 12.20% of the stock is currently owned by insiders.

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.