Mirae Asset Global Investments Co. Ltd. Sells 3,436,418 Shares of Lufax Holding Ltd (NYSE:LU)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Lufax Holding Ltd (NYSE:LU) by 79.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 889,775 shares of the company’s stock after selling 3,436,418 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Lufax were worth $2,732,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Lansdowne Partners UK LLP bought a new stake in Lufax during the 3rd quarter worth about $2,138,000. Citigroup Inc. lifted its position in Lufax by 207.8% during the 3rd quarter. Citigroup Inc. now owns 567,150 shares of the company’s stock valued at $601,000 after purchasing an additional 382,884 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Lufax by 25.5% during 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 purchasing an additional 862,120 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Lufax by 663.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 125,846 shares of the company’s stock valued at $133,000 after purchasing an additional 109,362 shares during the period. Finally, Caxton Associates LP raised its position in shares of 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 period. 69.14% of the stock is owned by institutional investors.

Lufax Price Performance

NYSE LU opened at $4.28 on Friday. The business has a 50 day simple moving average of $3.41 and a 200 day simple moving average of $3.36. Lufax Holding Ltd has a 52-week low of $2.11 and a 52-week high of $8.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.59 and a current ratio of 1.68. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 18.59 and a beta of 0.88.

Lufax (NYSE:LU) last posted its earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.18). The business had revenue of $965.76 million for the quarter, compared to the consensus estimate of $1.06 billion. Lufax had a return on equity of 0.94% and a net margin of 2.59%. Analysts anticipate that Lufax Holding Ltd will post 0.3 earnings per share for the current fiscal year.

Lufax Cuts Dividend

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

Analyst Ratings Changes

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

Lufax Company Profile

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.