American International Group Inc. grew its stake in shares of Lemonade, Inc. (NYSE:LMND – Free Report) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,414 shares of the company’s stock after purchasing an additional 1,772 shares during the period. American International Group Inc.’s holdings in Lemonade were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. MetLife Investment Management LLC acquired a new position in shares of Lemonade during the first quarter valued at about $25,000. WealthPlan Investment Management LLC raised its holdings in shares of Lemonade by 2,473.5% in the 2nd quarter. WealthPlan Investment Management LLC now owns 1,750 shares of the company’s stock worth $434,000 after acquiring an additional 1,682 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Lemonade by 91.7% in the 2nd quarter. Captrust Financial Advisors now owns 1,909 shares of the company’s stock worth $35,000 after acquiring an additional 913 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Lemonade by 73.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,179 shares of the company’s stock worth $31,000 after acquiring an additional 921 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Lemonade in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 54.64% of the company’s stock.
Analysts Set New Price Targets
LMND has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Lemonade from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Thursday, November 2nd. Piper Sandler lowered their target price on shares of Lemonade from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 4th. BMO Capital Markets upped their target price on shares of Lemonade from $8.00 to $9.00 and gave the stock an “underperform” rating in a report on Thursday, September 28th. Finally, Jefferies Financial Group reduced their price objective on shares of Lemonade from $14.00 to $10.00 in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Lemonade presently has a consensus rating of “Reduce” and an average price target of $12.67.
Lemonade Stock Performance
Shares of LMND stock opened at $16.52 on Friday. Lemonade, Inc. has a 52-week low of $10.27 and a 52-week high of $24.81. The company has a 50-day simple moving average of $12.88 and a two-hundred day simple moving average of $15.68. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -4.43 and a beta of 1.59.
Lemonade (NYSE:LMND – Get Free Report) last released its earnings results on Wednesday, November 1st. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.05. Lemonade had a negative net margin of 64.12% and a negative return on equity of 32.41%. The firm had revenue of $114.50 million during the quarter, compared to the consensus estimate of $104.52 million. During the same period in the prior year, the firm earned ($1.37) EPS. The company’s revenue was up 54.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lemonade, Inc. will post -3.56 EPS for the current fiscal year.
Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, car, pet, and life insurance products, as well as landlord insurance policies.
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