Lufax (NYSE:LU) Shares Up 2.9%

Lufax Holding Ltd (NYSE:LU) shares were up 2.9% on Thursday . The company traded as high as $4.29 and last traded at $4.28. Approximately 322,474 shares were traded during trading, a decline of 94% from the average daily volume of 5,064,588 shares. The stock had previously closed at $4.16.

Analyst Ratings Changes

A number of equities analysts recently commented on LU shares. Morgan Stanley increased 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. Bank of America lowered shares of Lufax from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.91.

Lufax Trading Up 1.6 %

The firm has a market capitalization of $2.49 billion, a P/E ratio of 18.87 and a beta of 0.88. 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 company’s fifty day moving average is $3.45 and its 200-day moving average is $3.36.

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

Lufax Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.156 per share. The ex-dividend date is Tuesday, June 4th. This represents a dividend yield of 5.8%. Lufax’s dividend payout ratio (DPR) is presently 108.70%.

Institutional Investors Weigh In On Lufax

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of Lufax by 1,344.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock valued at $31,000 after buying an additional 5,299 shares during the last quarter. American International Group Inc. lifted its position in shares of Lufax by 275.7% in the 2nd quarter. American International Group Inc. now owns 8,266 shares of the company’s stock worth $50,000 after acquiring an additional 6,066 shares during the period. FMR LLC grew its holdings in shares of Lufax by 1,442.0% during the 2nd quarter. FMR LLC now owns 10,162 shares of the company’s stock worth $61,000 after purchasing an additional 9,503 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new stake in Lufax in the 1st quarter valued at $25,000. Finally, Comerica Bank acquired a new position in shares of Lufax in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

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.