Lufax (NYSE:LU) Trading 11.4% Higher

Lufax Holding Ltd (NYSE:LUGet Rating)’s stock price was up 11.4% on Friday . The stock traded as high as $1.89 and last traded at $1.85. Approximately 172,292 shares were traded during trading, a decline of 99% from the average daily volume of 15,257,950 shares. The stock had previously closed at $1.66.

Analysts Set New Price Targets

LU has been the subject of a number of analyst reports. Daiwa Capital Markets started coverage on Lufax in a research report on Wednesday, July 27th. They issued a “buy” rating and a $6.40 price target for the company. CLSA cut shares of Lufax from an “outperform” rating to an “underperform” rating in a research note on Friday, August 5th. Finally, China Renaissance downgraded shares of Lufax from a “buy” rating to a “hold” rating and set a $3.10 price target on the stock. in a report on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.83.

Lufax Stock Up 10.2 %

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $2.49 and a 200 day simple moving average of $4.32. The company has a market cap of $4.18 billion, a P/E ratio of 1.89, a P/E/G ratio of 0.16 and a beta of 0.04.

Lufax Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Friday, October 28th. Stockholders of record on Thursday, October 13th were issued a $0.17 dividend. This represents a dividend yield of 11%. The ex-dividend date of this dividend was Wednesday, October 12th. Lufax’s payout ratio is presently 30.93%.

Institutional Investors Weigh In On Lufax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LU. E Fund Management Hong Kong Co. Ltd. purchased a new position in Lufax during the 1st quarter worth $1,994,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Lufax in the first quarter worth about $6,638,000. DekaBank Deutsche Girozentrale bought a new position in Lufax during the 1st quarter worth about $1,625,000. Daiwa Securities Group Inc. bought a new position in Lufax during the 1st quarter worth about $163,000. Finally, SG Americas Securities LLC purchased a new position in Lufax during the 1st quarter valued at about $2,314,000. Institutional investors own 15.71% of the company’s stock.

Lufax Company Profile

(Get Rating)

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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