Principal Financial Group Inc. Has $2.23 Million Holdings in Nu Holdings Ltd. (NYSE:NU)

Principal Financial Group Inc. lessened its position in Nu Holdings Ltd. (NYSE:NU) by 18.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 217,563 shares of the company’s stock after selling 49,870 shares during the period. Principal Financial Group Inc.’s holdings in NU were worth $2,228,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. MBM Wealth Consultants LLC raised its stake in shares of NU by 5.9% in the first quarter. MBM Wealth Consultants LLC now owns 48,426 shares of the company’s stock valued at $496,000 after buying an additional 2,698 shares during the period. INCA Investments LLC raised its stake in shares of NU by 20.7% during the 1st quarter. INCA Investments LLC now owns 1,023,641 shares of the company’s stock valued at $10,482,000 after purchasing an additional 175,337 shares during the period. Summit Trail Advisors LLC bought a new stake in shares of NU during the 1st quarter valued at $149,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of NU by 12.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 156,523 shares of the company’s stock valued at $1,603,000 after purchasing an additional 17,527 shares during the period. Finally, Amalgamated Bank raised its stake in shares of NU by 5.3% during the 1st quarter. Amalgamated Bank now owns 227,585 shares of the company’s stock valued at $2,330,000 after purchasing an additional 11,516 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.

Wall Street Analyst Weigh In

NU has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on NU from $14.50 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, June 30th. Susquehanna increased their target price on NU from $14.00 to $15.00 and gave the company a “positive” rating in a report on Wednesday, May 14th. Barclays increased their price objective on NU from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, Morgan Stanley reissued an “overweight” rating on shares of NU in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

NU Stock Down 6.9%

NU stock opened at $13.02 on Friday. The business has a 50 day moving average of $12.75 and a 200 day moving average of $12.02. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.20. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $16.15. The firm has a market cap of $62.74 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 0.80 and a beta of 1.07.

NU (NYSE:NU) last issued its earnings results on Tuesday, May 13th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.09 billion. NU had a net margin of 17.88% and a return on equity of 30.77%. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, research analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

NU Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.