E Fund Management Co. Ltd. cut its holdings in Lufax Holding Ltd (NYSE:LU – Get Rating) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,236,160 shares of the company’s stock after selling 106,374 shares during the quarter. Lufax comprises approximately 1.2% of E Fund Management Co. Ltd.’s holdings, making the stock its 19th largest position. E Fund Management Co. Ltd. owned about 0.23% of Lufax worth $13,300,000 at the end of the most recent quarter.
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Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in 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 during the period. Platinum Investment Management Ltd. acquired a new stake in shares of Lufax in the 2nd quarter valued at approximately $43,000. American International Group Inc. increased its stake in 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 purchasing an additional 6,066 shares in the last quarter. FMR LLC grew its stake in shares of Lufax by 1,442.0% during the 2nd quarter. FMR LLC now owns 10,162 shares of the company’s stock worth $61,000 after acquiring an additional 9,503 shares in the last quarter. Finally, Balentine LLC bought a new position in shares of Lufax during the 3rd quarter worth approximately $34,000. 15.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently weighed in on LU. JPMorgan Chase & Co. cut shares of Lufax from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $6.40 to $1.60 in a research note on Friday, November 25th. HSBC cut shares of Lufax from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research note on Friday, November 25th. Citigroup decreased their target price on shares of Lufax from $6.06 to $3.52 and set a “buy” rating for the company in a research note on Friday, November 25th. Morgan Stanley downgraded Lufax from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $7.00 to $1.52 in a report on Thursday, December 1st. Finally, CLSA raised Lufax from a “sell” rating to a “buy” rating in a report on Monday, November 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Lufax currently has a consensus rating of “Hold” and a consensus price target of $3.07.
Lufax Trading Up 0.4 %
LU traded up $0.01 during trading on Thursday, hitting $2.60. The company’s stock had a trading volume of 4,627,882 shares, compared to its average volume of 19,202,111. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.14. Lufax Holding Ltd has a twelve month low of $1.26 and a twelve month high of $7.05. The stock’s fifty day moving average price is $2.47 and its 200-day moving average price is $2.70. The firm has a market capitalization of $5.94 billion, a P/E ratio of 3.28 and a beta of 0.47.
Lufax (NYSE:LU – Get Rating) last issued its earnings results on Wednesday, November 23rd. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). Lufax had a return on equity of 13.69% and a net margin of 20.48%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.09 billion. Analysts anticipate that Lufax Holding Ltd will post 0.61 EPS for the current year.
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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