Wellington Management Group LLP Boosts Stake in Lufax Holding Ltd (NYSE:LU)

Wellington Management Group LLP boosted its stake in Lufax Holding Ltd (NYSE:LUFree Report) by 5.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,481,980 shares of the company’s stock after buying an additional 230,191 shares during the quarter. Wellington Management Group LLP’s holdings in Lufax were worth $4,751,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lansdowne Partners UK LLP acquired a new position in Lufax in the 3rd quarter valued at $2,138,000. Charles Schwab Investment Management Inc. raised its holdings in Lufax by 25.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,242,221 shares of the company’s stock valued at $4,497,000 after acquiring an additional 862,120 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Lufax by 663.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 125,846 shares of the company’s stock valued at $133,000 after acquiring an additional 109,362 shares during the last quarter. Caxton Associates LP raised its holdings in Lufax by 2,850.6% in the 3rd quarter. Caxton Associates LP now owns 1,307,044 shares of the company’s stock valued at $1,385,000 after acquiring an additional 1,262,746 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in Lufax by 207.8% in the 3rd quarter. Citigroup Inc. now owns 567,150 shares of the company’s stock valued at $601,000 after acquiring an additional 382,884 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Wall Street Analysts Forecast Growth

LU has been the subject of a number of research analyst reports. Bank of America downgraded Lufax from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley upped their price objective on Lufax from $3.00 to $4.80 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Lufax presently has an average rating of “Hold” and a consensus target price of $6.91.

Read Our Latest Analysis on Lufax

Lufax Stock Down 0.5 %

Shares of NYSE LU opened at $4.33 on Wednesday. Lufax Holding Ltd has a 12-month low of $2.11 and a 12-month high of $8.72. The company has a market cap of $2.48 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.88 and a beta of 0.81. The company has a current ratio of 1.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $2.76 and a 200 day moving average price of $3.37.

Lufax Cuts Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, August 6th. Investors of record on Tuesday, June 4th will be issued a $0.156 dividend. The ex-dividend date is Tuesday, June 4th. This represents a yield of 5.8%. Lufax’s dividend payout ratio is currently 108.70%.

Lufax Profile

(Free Report)

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. The company offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. It 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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