Legal & General Group Plc Invests $3.40 Million in Lemonade, Inc. $LMND

Legal & General Group Plc acquired a new position in Lemonade, Inc. (NYSE:LMND) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 52,301 shares of the company’s stock, valued at approximately $3,402,000. Legal & General Group Plc owned 0.07% of Lemonade at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LMND. The Manufacturers Life Insurance Company purchased a new position in shares of Lemonade in the second quarter worth approximately $2,737,000. Foyston Gordon & Payne Inc purchased a new position in Lemonade during the second quarter valued at $867,000. Quantbot Technologies LP bought a new stake in Lemonade during the second quarter valued at about $462,000. X Square Capital LLC purchased a new stake in Lemonade in the second quarter worth about $1,128,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Lemonade in the second quarter worth about $3,446,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insider Activity

In other Lemonade news, insider John Peters sold 11,000 shares of Lemonade stock in a transaction dated 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 approximately $4,043,302.10. The trade was a 12.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.20% of the company’s stock.

Lemonade Stock Performance

NYSE LMND opened at $53.27 on Friday. Lemonade, Inc. has a one year low of $46.16 and a one year high of $99.90. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of -29.11 and a beta of 1.87. The company’s 50-day simple moving average is $58.99 and its two-hundred day simple moving average is $58.71.

Lemonade (NYSE:LMND) last announced 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 during the quarter, compared to analysts’ expectations 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 was up 79.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.60) EPS. Equities analysts expect that Lemonade, Inc. will post -1.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

LMND has been the subject of a number of analyst reports. TD Cowen reissued a “hold” rating on shares of Lemonade in a research note on Monday, June 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Friday, July 17th. Keefe, Bruyette & Woods raised shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 target price on the stock in a research note on Thursday, July 30th. Finally, UBS Group set a $75.00 price objective on shares of Lemonade in a research note on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $64.50.

Lemonade Company 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.