American Century Companies Inc. Has $30.69 Million Stock Holdings in LendingClub Co. (NYSE:LC)

American Century Companies Inc. raised its stake in shares of LendingClub Co. (NYSE:LC) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,895,699 shares of the credit services provider’s stock after buying an additional 160,916 shares during the period. American Century Companies Inc.’s holdings in LendingClub were worth $30,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in LendingClub during the third quarter valued at $326,000. Intech Investment Management LLC bought a new stake in shares of LendingClub in the 3rd quarter valued at approximately $454,000. Charles Schwab Investment Management Inc. increased its holdings in LendingClub by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 901,357 shares of the credit services provider’s stock worth $10,303,000 after buying an additional 10,094 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in LendingClub by 5.1% during the third quarter. The Manufacturers Life Insurance Company now owns 318,222 shares of the credit services provider’s stock valued at $3,637,000 after acquiring an additional 15,378 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in LendingClub by 153.2% in the third quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock valued at $1,815,000 after acquiring an additional 96,053 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the sale, the general counsel now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction dated Monday, February 3rd. The shares were acquired at an average cost of $12.88 per share, with a total value of $257,600.00. Following the completion of the acquisition, the director now directly owns 148,018 shares in the company, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 41,000 shares of company stock valued at $606,660 in the last quarter. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Piper Sandler restated an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. One equities research 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’s stock. According to data from MarketBeat.com, LendingClub presently has an average rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Stock Performance

NYSE LC opened at $10.40 on Friday. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The stock has a market cap of $1.18 billion, a PE ratio of 23.12 and a beta of 2.07. The firm has a 50-day simple moving average of $12.95 and a 200 day simple moving average of $13.87.

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.