Prudential Financial Inc. Purchases 157,500 Shares of LendingClub Co. (NYSE:LC)

Prudential Financial Inc. boosted its holdings in shares of LendingClub Co. (NYSE:LC - Free Report) by 29.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 692,439 shares of the credit services provider's stock after purchasing an additional 157,500 shares during the quarter. Prudential Financial Inc. owned approximately 0.62% of LendingClub worth $11,211,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LC. SBI Securities Co. Ltd. bought a new position in LendingClub during the 4th quarter valued at $45,000. FMR LLC grew its position 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 acquiring an additional 1,424 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after acquiring an additional 1,975 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of LendingClub during the 4th quarter valued at approximately $164,000. Finally, Vontobel Holding Ltd. bought a new position in shares of LendingClub in the 4th quarter worth about $166,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business's 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 of the company's stock, valued at $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average cost of $12.88 per share, with a total value of $257,600.00. Following the purchase, the director now owns 148,018 shares in the company, valued at $1,906,471.84. The trade was a 15.62 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 41,000 shares of company stock valued at $606,660 in the last 90 days. 3.31% of the stock is currently owned by corporate insiders.

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LendingClub Stock Up 0.3 %

Shares of LC traded up $0.04 during mid-day trading on Tuesday, reaching $10.36. The company's stock had a trading volume of 642,511 shares, compared to its average volume of 1,868,049. The business has a fifty day moving average of $12.82 and a 200 day moving average of $13.92. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 23.01 and a beta of 2.07. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LC. JPMorgan Chase & Co. dropped their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. 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. Finally, Piper Sandler restated an "overweight" rating and set a $19.00 price target (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, LendingClub has a consensus rating of "Moderate Buy" and a consensus 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.