Allianz Asset Management GmbH Reduces Stock Position in Lufax Holding Ltd. Sponsored ADR $LU

Allianz Asset Management GmbH decreased its position in Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 19.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,253,309 shares of the company’s stock after selling 300,123 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.14% of Lufax worth $5,088,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Amundi increased its holdings in Lufax by 76.8% during the 1st quarter. Amundi now owns 97,223 shares of the company’s stock valued at $282,000 after purchasing an additional 42,236 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Lufax by 32.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 604,823 shares of the company’s stock worth $1,796,000 after buying an additional 148,724 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Lufax by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company’s stock valued at $3,990,000 after buying an additional 8,236 shares during the period. Aberdeen Group plc raised its holdings in shares of Lufax by 54.4% during the second quarter. Aberdeen Group plc now owns 79,947 shares of the company’s stock valued at $223,000 after acquiring an additional 28,166 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Lufax during the second quarter valued at approximately $28,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Lufax Stock Up 2.1%

NYSE:LU opened at $2.94 on Wednesday. The firm’s fifty day simple moving average is $2.66 and its 200 day simple moving average is $2.93. The stock has a market cap of $2.55 billion, a P/E ratio of -3.82 and a beta of 0.63. Lufax Holding Ltd. Sponsored ADR has a twelve month low of $2.30 and a twelve month high of $4.57.

Lufax Profile

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.