DnB Asset Management AS Acquires Shares of 35,439 Lufax Holding Ltd (NYSE:LU)

DnB Asset Management AS bought a new position in Lufax Holding Ltd (NYSE:LUGet Rating) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 35,439 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds also recently bought and sold shares of LU. Acadian Asset Management LLC acquired a new stake in Lufax in the fourth quarter worth $42,000. Renaissance Technologies LLC raised its holdings in Lufax by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,715,265 shares of the company’s stock worth $20,917,000 after purchasing an additional 1,527,654 shares during the period. LMR Partners LLP acquired a new stake in Lufax in the fourth quarter worth $121,000. Credit Suisse AG raised its holdings in Lufax by 302.7% in the fourth quarter. Credit Suisse AG now owns 1,606,654 shares of the company’s stock worth $9,045,000 after purchasing an additional 1,207,690 shares during the period. Finally, Ghisallo Capital Management LLC raised its holdings in shares of Lufax by 669.2% during the fourth quarter. Ghisallo Capital Management LLC now owns 500,000 shares of the company’s stock worth $2,815,000 after acquiring an additional 435,000 shares during the period. 15.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LU shares. CLSA lowered shares of Lufax from an “outperform” rating to an “underperform” rating in a report on Friday, August 5th. Daiwa Capital Markets started coverage on shares of Lufax in a report on Wednesday, July 27th. They set a “buy” rating and a $6.40 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lufax currently has a consensus rating of “Hold” and a consensus price target of $5.80.

Lufax Trading Down 3.3 %

Shares of NYSE:LU opened at $3.20 on Friday. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 3.30, a PEG ratio of 0.36 and a beta of -0.29. Lufax Holding Ltd has a 12 month low of $3.19 and a 12 month high of $7.80. The company’s fifty day simple moving average is $4.20 and its 200 day simple moving average is $5.26. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.13.

Lufax (NYSE:LUGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.66 billion. Lufax had a net margin of 23.77% and a return on equity of 16.50%. As a group, research analysts forecast that Lufax Holding Ltd will post 0.83 EPS for the current fiscal year.

Lufax Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Friday, October 28th. Investors of record on Thursday, October 13th will be given a $0.17 dividend. This represents a yield of 11%. The ex-dividend date is Wednesday, October 12th. Lufax’s dividend payout ratio (DPR) is currently 32.99%.

Lufax Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Lufax (NYSE:LU)

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