Alpine Investment Management Ltd Takes $17.15 Million Position in Lufax Holding Ltd. Sponsored ADR $LU

Alpine Investment Management Ltd purchased a new position in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,225,000 shares of the company’s stock, valued at approximately $17,154,000. Lufax comprises 5.8% of Alpine Investment Management Ltd’s investment portfolio, making the stock its 4th biggest holding. Alpine Investment Management Ltd owned about 0.49% of Lufax at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LU. Vanguard Group Inc. increased its stake in Lufax by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 12,399,445 shares of the company’s stock valued at $50,342,000 after buying an additional 335,480 shares during the period. Yunqi Capital Ltd lifted its stake in shares of Lufax by 42.3% in the 2nd quarter. Yunqi Capital Ltd now owns 10,098,040 shares of the company’s stock worth $28,174,000 after acquiring an additional 3,000,000 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Lufax by 58.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,311,555 shares of the company’s stock valued at $9,239,000 after acquiring an additional 1,221,383 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Lufax by 2,378.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,168,162 shares of the company’s stock valued at $6,049,000 after acquiring an additional 2,080,678 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Lufax during the second quarter worth about $4,927,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Lufax from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Lufax Stock Down 1.6%

Shares of LU opened at $2.42 on Friday. Lufax Holding Ltd. Sponsored ADR has a 52-week low of $2.30 and a 52-week high of $4.57. The company has a 50-day simple moving average of $2.69 and a 200-day simple moving average of $2.91. The company has a market capitalization of $2.10 billion, a PE ratio of -3.10 and a beta of 0.64.

Lufax (NYSE:LU) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.19) EPS for the quarter. The company had revenue of $724.89 million for the quarter. On average, research analysts anticipate that Lufax Holding Ltd. Sponsored ADR will post -0.41 EPS for the current year.

Lufax Company 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.