The Manufacturers Life Insurance Company Has $895,000 Stock Position in LendingClub Co. (NYSE:LC)

The Manufacturers Life Insurance Company lessened its position in shares of LendingClub Co. (NYSE:LC) by 82.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,254 shares of the credit services provider’s stock after selling 262,968 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in LendingClub were worth $895,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new stake in LendingClub during the 4th quarter worth about $2,419,000. Nebula Research & Development LLC boosted its stake in LendingClub by 28.2% in the fourth quarter. Nebula Research & Development LLC now owns 19,877 shares of the credit services provider’s stock valued at $322,000 after acquiring an additional 4,369 shares during the last quarter. Sompo Asset Management Co. Ltd. acquired a new stake in LendingClub during the 4th quarter worth $631,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of LendingClub in the 4th quarter valued at $575,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of LendingClub by 10.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 82,952 shares of the credit services provider’s stock worth $1,343,000 after purchasing an additional 7,601 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Ratings Changes

LC has been the subject of several analyst reports. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Finally, Keefe, Bruyette & Woods lowered their price target on LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.75.

LendingClub Stock Performance

NYSE LC opened at $11.14 on Thursday. The business has a 50 day simple moving average of $10.25 and a 200 day simple moving average of $13.44. LendingClub Co. has a 52-week low of $7.81 and a 52-week high of $18.75. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 24.76 and a beta of 2.35.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The business had revenue of $217.71 million during the quarter, compared to analysts’ expectations of $213.71 million. During the same period in the prior year, the business earned $0.11 EPS. LendingClub’s revenue for the quarter was up 21670.0% compared to the same quarter last year. On average, analysts predict that LendingClub Co. will post 0.72 EPS for the current year.

Insider Transactions at LendingClub

In other news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the sale, the general counsel now owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $10.34, for a total value of $54,285.00. Following the completion of the sale, the chief executive officer now directly owns 1,297,782 shares of the company’s stock, valued at approximately $13,419,065.88. The trade was a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,750 shares of company stock valued at $257,985 in the last ninety days. 3.19% of the stock is currently owned by corporate insiders.

LendingClub Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.