Prudential Financial Inc. Raises Position in LendingClub Co. (NYSE:LC)

Prudential Financial Inc. raised its holdings in shares of LendingClub Co. (NYSE:LC) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 692,439 shares of the credit services provider’s stock after buying an additional 157,500 shares during the quarter. Prudential Financial Inc. owned about 0.62% of LendingClub worth $11,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LC. SBI Securities Co. Ltd. bought a new position in shares of LendingClub in the fourth quarter worth approximately $45,000. FMR LLC increased its holdings in shares of LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after buying an additional 1,424 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of LendingClub by 49.2% during the 4th 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 during the last quarter. Sanctuary Advisors LLC purchased a new position in LendingClub in the fourth quarter worth $164,000. Finally, Vontobel Holding Ltd. bought a new position in LendingClub in the fourth quarter valued at $166,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the transaction, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction 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 directly owns 88,263 shares of the company’s stock, valued at $1,244,508.30. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,000 shares of company stock worth $606,660. 3.31% of the stock is currently owned by company insiders.

LendingClub Stock Down 4.1 %

Shares of NYSE LC opened at $10.40 on Friday. The firm’s fifty day moving average is $12.95 and its 200 day moving average is $13.87. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 23.12 and a beta of 2.07.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LC. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.00.

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.