Farallon Capital Management LLC cut its position in Lufax Holding Ltd (NYSE:LU – Get Rating) by 13.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,536,399 shares of the company’s stock after selling 3,204,000 shares during the quarter. Farallon Capital Management LLC owned about 0.90% of Lufax worth $52,162,000 at the end of the most recent reporting period.
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A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LU. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Lufax by 2.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 111,871 shares of the company’s stock worth $623,000 after purchasing an additional 2,871 shares during the period. Cigna Investments Inc. New raised its position in shares of Lufax by 32.2% in the 2nd quarter. Cigna Investments Inc. New now owns 16,297 shares of the company’s stock valued at $98,000 after buying an additional 3,972 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Lufax by 1,344.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock valued at $31,000 after buying an additional 5,299 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Lufax by 275.7% during the 2nd quarter. American International Group Inc. now owns 8,266 shares of the company’s stock worth $50,000 after acquiring an additional 6,066 shares during the period. Finally, Platinum Investment Management Ltd. acquired a new stake in shares of Lufax in the 2nd quarter valued at $43,000. 15.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have issued reports on LU. Credit Suisse Group cut shares of Lufax from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $1.70 to $1.40 in a research report on Friday, November 25th. Citigroup dropped their price target on shares of Lufax from $6.06 to $3.52 and set a “buy” rating on the stock in a research report on Friday, November 25th. JPMorgan Chase & Co. downgraded shares of Lufax from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $6.40 to $1.60 in a report on Friday, November 25th. CLSA raised Lufax from a “sell” rating to a “buy” rating in a report on Monday, November 14th. Finally, HSBC downgraded Lufax from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Friday, November 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.07.
Lufax Price Performance
Shares of LU traded up $0.18 during midday trading on Wednesday, hitting $2.34. 11,443,762 shares of the company traded hands, compared to its average volume of 17,820,740. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 1.44. Lufax Holding Ltd has a 52 week low of $1.26 and a 52 week high of $7.05. The firm has a 50 day moving average of $2.51 and a 200-day moving average of $2.56. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 2.96 and a beta of 0.47.
Lufax Profile
Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.
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