Lufax (NYSE:LU) Downgraded to “Underperform” at Macquarie

Macquarie cut shares of Lufax (NYSE:LU – Get Rating) from a neutral rating to an underperform rating in a report released on Tuesday morning, The Fly reports. Macquarie currently has $1.50 target price on the stock.

Several other brokerages have also issued reports on LU. Citigroup lowered Lufax from a buy rating to a neutral rating and reduced their price target for the company from $3.52 to $2.04 in a report on Monday. HSBC reduced their price target on Lufax from $4.00 to $3.00 in a report on Tuesday. Credit Suisse Group lowered Lufax from a neutral rating to an underperform rating and reduced their target price for the stock from $1.70 to $1.40 in a report on Friday, November 25th. Morgan Stanley lowered Lufax from an overweight rating to an equal weight rating and reduced their target price for the stock from $7.00 to $1.52 in a report on Thursday, December 1st. Finally, Daiwa Capital Markets lowered Lufax from a buy rating to a hold rating in a report on Friday, November 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $2.57.

Lufax Trading Up 3.1 %

Shares of NYSE LU opened at $1.98 on Tuesday. Lufax has a one year low of $1.26 and a one year high of $7.05. The firm has a market capitalization of $4.53 billion, a PE ratio of 3.60 and a beta of 0.57. 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 business has a 50-day moving average price of $2.53 and a two-hundred day moving average price of $2.42.

Lufax Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, April 21st. Stockholders of record on Friday, April 7th will be given a dividend of $0.05 per share. This represents a dividend yield of 9.9%. The ex-dividend date is Wednesday, April 5th. Lufax’s dividend payout ratio is presently 54.55%.

Institutional Trading of Lufax

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew 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 valued at $31,000 after acquiring an additional 5,299 shares during the period. Platinum Investment Management Ltd. bought a new stake in Lufax in the second quarter valued at $43,000. American International Group Inc. grew 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 valued at $50,000 after acquiring an additional 6,066 shares during the period. FMR LLC grew its position in Lufax by 1,442.0% in 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 period. Finally, Balentine LLC bought a new stake in Lufax in the third quarter valued at $34,000. 15.24% of the stock is currently owned by institutional investors.

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.