The Manufacturers Life Insurance Company Takes $2.74 Million Position in Lemonade, Inc. $LMND

The Manufacturers Life Insurance Company purchased a new stake in Lemonade, Inc. (NYSE:LMND) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 42,071 shares of the company’s stock, valued at approximately $2,737,000.

A number of other large investors have also added to or reduced their stakes in LMND. AQR Capital Management LLC increased its stake in Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after acquiring an additional 15,779 shares during the period. Millennium Management LLC lifted its position in shares of Lemonade by 255.2% during the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after acquiring an additional 237,044 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Lemonade during the 1st quarter valued at $35,000. Goldman Sachs Group Inc. grew its holdings in shares of Lemonade by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock worth $19,244,000 after purchasing an additional 41,759 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Lemonade during the 2nd quarter worth $307,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on LMND shares. Cantor Fitzgerald restated an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lemonade in a research report on Friday, July 17th. Piper Sandler reduced their price objective on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. UBS Group set a $75.00 target price on shares of Lemonade in a report on Thursday, May 21st. Finally, Morgan Stanley dropped their target price on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 19th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lemonade presently has an average rating of “Hold” and an average target price of $64.50.

Lemonade Price Performance

NYSE LMND opened at $52.96 on Thursday. The business has a fifty day moving average price of $59.12 and a two-hundred day moving average price of $58.81. The stock has a market capitalization of $4.10 billion, a PE ratio of -28.94 and a beta of 1.87. Lemonade, Inc. has a fifty-two week low of $46.16 and a fifty-two week high of $99.90.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.56). Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The company had revenue of $294.40 million for the quarter, compared to analyst estimates of $291.01 million. During the same quarter last year, the company posted ($0.60) EPS. The company’s revenue for the quarter was up 79.4% compared to the same quarter last year. As a group, sell-side analysts expect that Lemonade, Inc. will post -1.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Sheldon Peters sold 11,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the sale, the insider directly 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 filing with the SEC, which is available through this link. 12.20% of the stock is owned by company insiders.

About Lemonade

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.