abrdn plc Sells 783,458 Shares of Lufax Holding Ltd (NYSE:LU)

abrdn plc trimmed its holdings in shares of Lufax Holding Ltd (NYSE:LU) by 76.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,888 shares of the company’s stock after selling 783,458 shares during the quarter. abrdn plc’s holdings in Lufax were worth $761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LU. 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 worth $601,000 after purchasing an additional 382,884 shares during the period. Wellington Management Group LLP grew its stake in shares of Lufax by 5.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,481,980 shares of the company’s stock valued at $4,751,000 after acquiring an additional 230,191 shares during the period. Lansdowne Partners UK LLP bought a new stake in Lufax during the 3rd quarter worth approximately $2,138,000. Caxton Associates LP lifted its holdings in Lufax by 2,850.6% during the third quarter. Caxton Associates LP now owns 1,307,044 shares of the company’s stock valued at $1,385,000 after purchasing an additional 1,262,746 shares in the last quarter. Finally, Bamco Inc. NY raised its position in shares of Lufax by 22.1% during the 3rd quarter. Bamco Inc. NY now owns 18,416,696 shares of the company’s stock valued at $19,522,000 after purchasing an additional 3,330,411 shares during the period. 69.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Lufax Price Performance

LU stock opened at $4.53 on Tuesday. The company has a fifty day simple moving average of $3.70 and a two-hundred day simple moving average of $3.36. Lufax Holding Ltd has a 52 week low of $2.11 and a 52 week high of $7.64. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.60 billion, a P/E ratio of -32.35, a price-to-earnings-growth ratio of 0.64 and a beta of 0.88.

Lufax (NYSE:LU) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.18). The company had revenue of $965.76 million for the quarter, compared to the consensus estimate of $1.06 billion. Lufax had a negative return on equity of 0.72% and a negative net margin of 2.17%. Analysts anticipate that Lufax Holding Ltd will post 0.21 earnings per share for the current fiscal year.

Lufax Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.156 per share. This represents a yield of 5.8%. The ex-dividend date is Tuesday, June 4th. Lufax’s payout ratio is -178.56%.

Lufax 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.