Northwest & Ethical Investments L.P. Acquires New Position in LendingClub Co. (NYSE:LC)

Northwest & Ethical Investments L.P. bought a new position in shares of LendingClub Co. (NYSE:LC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,700 shares of the credit services provider’s stock, valued at approximately $238,000.

Other large investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in shares of LendingClub by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider’s stock worth $441,000 after buying an additional 748 shares during the period. FMR LLC increased its stake in shares of LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 1,424 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after acquiring an additional 1,975 shares in the last quarter. New York State Common Retirement Fund grew its position in LendingClub by 7.3% during the 4th quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock valued at $475,000 after purchasing an additional 2,000 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of LendingClub during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Performance

NYSE:LC opened at $11.09 on Friday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 24.63 and a beta of 2.07. The company’s 50-day simple moving average is $13.43 and its 200-day simple moving average is $13.89. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.

Analysts Set New Price Targets

LC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Piper Sandler reissued an “overweight” rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their price objective on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, LendingClub has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,312,184 shares in the company, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were bought at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, the director now directly owns 148,018 shares in the company, valued at $1,906,471.84. This represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 41,000 shares of company stock valued at $606,660. Corporate insiders own 3.31% of the company’s stock.

LendingClub Company 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.