Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Holdings in Lufax Holding Ltd (NYSE:LU)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Lufax Holding Ltd (NYSE:LU) by 46.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,001 shares of the company’s stock after selling 74,365 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lufax were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. lifted 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 purchasing an additional 382,884 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Lufax by 5.4% in the third quarter. Wellington Management Group LLP now owns 4,481,980 shares of the company’s stock valued at $4,751,000 after buying an additional 230,191 shares during the last quarter. Lansdowne Partners UK LLP purchased a new position in shares of Lufax in the third quarter worth about $2,138,000. Caxton Associates LP boosted its position in Lufax by 2,850.6% during the third quarter. Caxton Associates LP now owns 1,307,044 shares of the company’s stock worth $1,385,000 after acquiring an additional 1,262,746 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in 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 acquiring an additional 3,330,411 shares in the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Bank of America lowered shares of Lufax from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. One investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.91.

Lufax Price Performance

Lufax stock opened at $4.70 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $3.85 and a 200 day moving average price of $3.37. Lufax Holding Ltd has a 12-month low of $2.11 and a 12-month high of $7.64. The stock has a market cap of $2.69 billion, a P/E ratio of -33.57, a PEG ratio of 0.64 and a beta of 0.82.

Lufax (NYSE:LU) last announced its quarterly 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 firm had revenue of $965.76 million for the quarter, compared to analyst estimates of $1.06 billion. Lufax had a negative return on equity of 0.72% and a negative net margin of 2.17%. Sell-side analysts anticipate that Lufax Holding Ltd will post 0.21 earnings per share for the current year.

Lufax Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Tuesday, June 4th will be given 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 -178.57%.

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.