Russell Investments Group Ltd. Has $5.12 Million Holdings in LendingClub Co. (NYSE:LC)

Russell Investments Group Ltd. trimmed its position in shares of LendingClub Co. (NYSE:LC) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,185 shares of the credit services provider’s stock after selling 52,318 shares during the period. Russell Investments Group Ltd.’s holdings in LendingClub were worth $5,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of LendingClub in the 4th quarter valued at about $45,000. National Bank of Canada FI increased its position in LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,448 shares during the last quarter. FMR LLC raised its stake in LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares during the period. Jones Financial Companies Lllp raised its stake 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 valued at $97,000 after buying an additional 1,975 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of LendingClub in the fourth quarter valued at approximately $164,000. 74.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LC shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Friday, April 4th. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, LendingClub currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

LendingClub Stock Up 0.7 %

Shares of LendingClub stock opened at $9.26 on Tuesday. The company has a 50-day simple moving average of $11.42 and a two-hundred day simple moving average of $13.76. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 20.58 and a beta of 2.09.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the completion of the transaction, the chief executive officer now owns 1,295,184 shares of the company’s stock, valued at $17,821,731.84. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the purchase, the director now directly owns 148,018 shares of the company’s stock, valued at approximately $1,906,471.84. This represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 29,250 shares of company stock worth $385,120. 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.