Great West Life Assurance Co. Can Invests $3.34 Million in Lufax Holding Ltd (NYSE:LU)

Great West Life Assurance Co. Can bought a new position in Lufax Holding Ltd (NYSE:LUGet Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,330,812 shares of the company’s stock, valued at approximately $3,337,000.

Several other hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in Lufax by 1,344.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock worth $31,000 after purchasing an additional 5,299 shares during the last quarter. Balentine LLC bought a new stake in Lufax in the third quarter worth $34,000. Platinum Investment Management Ltd. bought a new stake in Lufax in the second quarter worth $43,000. American International Group Inc. increased its position in Lufax by 275.7% in the second 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 during the last quarter. Finally, FMR LLC increased its position in Lufax by 1,442.0% during the second quarter. FMR LLC now owns 10,162 shares of the company’s stock valued at $61,000 after acquiring an additional 9,503 shares during the last quarter. Hedge funds and other institutional investors own 15.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on LU shares. China Renaissance cut shares of Lufax from a “buy” rating to a “hold” rating and set a $3.10 price objective on the stock. in a research report on Thursday, September 29th. JPMorgan Chase & Co. cut shares of Lufax from an “overweight” rating to an “underweight” rating and cut their price objective for the company from $6.40 to $1.60 in a research report on Friday, November 25th. Daiwa Capital Markets cut shares of Lufax from a “buy” rating to a “hold” rating in a research report on Friday, November 25th. CLSA upgraded shares of Lufax from a “sell” rating to a “buy” rating in a research report on Monday, November 14th. Finally, Citigroup cut their price objective 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.07.

Lufax Trading Up 2.2 %

NYSE LU opened at $2.75 on Wednesday. The company’s 50-day moving average price is $2.11 and its 200-day moving average price is $2.94. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. The stock has a market cap of $6.29 billion, a PE ratio of 3.48 and a beta of 0.08. Lufax Holding Ltd has a 12 month low of $1.26 and a 12 month high of $7.05.

Lufax (NYSE:LUGet Rating) last released its quarterly earnings data 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 business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Equities research analysts forecast that Lufax Holding Ltd will post 0.6 earnings per share for the current year.

Lufax 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.

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Institutional Ownership by Quarter for Lufax (NYSE:LU)

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