JPMorgan Chase & Co. Begins Coverage on Lufax (NYSE:LU)

JPMorgan Chase & Co. began coverage on shares of Lufax (NYSE:LU) in a research report issued on Friday, MarketBeat.com reports. The firm set a “neutral” rating and a $2.00 price target on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.54% from the company’s previous close.

Separately, Wall Street Zen downgraded shares of Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Sell” and an average target price of $2.00.

Lufax Stock Down 6.7%

LU opened at $1.90 on Friday. Lufax has a twelve month low of $1.73 and a twelve month high of $4.57. The company has a 50-day moving average price of $2.30 and a 200 day moving average price of $2.67. The company has a market cap of $1.64 billion, a PE ratio of -2.43 and a beta of 0.76.

Lufax (NYSE:LU) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share for the quarter. The company had revenue of $724.89 million for the quarter. As a group, sell-side analysts expect that Lufax will post -0.41 earnings per share for the current year.

Institutional Trading of Lufax

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Lufax by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 12,399,445 shares of the company’s stock valued at $50,342,000 after acquiring an additional 335,480 shares in the last quarter. Yunqi Capital Ltd grew its stake in Lufax by 8.4% during the 3rd quarter. Yunqi Capital Ltd now owns 10,950,138 shares of the company’s stock valued at $44,458,000 after acquiring an additional 852,098 shares in the last quarter. Alpine Investment Management Ltd grew its stake in Lufax by 91.9% during the 4th quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock valued at $20,753,000 after acquiring an additional 3,881,500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lufax by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,802,005 shares of the company’s stock valued at $14,853,000 after acquiring an additional 240,225 shares in the last quarter. Finally, Norges Bank purchased a new stake in Lufax during the 4th quarter valued at about $8,067,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Trending Headlines about Lufax

Here are the key news stories impacting Lufax this week:

• Neutral Sentiment: JPMorgan initiated coverage on LU with a Neutral rating and a $2.00 price target, signaling limited upside from current levels and providing an analyst anchor but not a bullish catalyst. JPMorgan Coverage
• Negative Sentiment: Multiple law firms have filed or announced class actions and are soliciting lead plaintiffs against Lufax, increasing legal risk, potential future settlement costs and reputational damage that can pressure the share price. Representative filings and solicitations include notices from Rosen Law Firm and others. Rosen Notice Hagens Berman Filing
• Negative Sentiment: Some complaints specifically allege inadequate disclosures and cite the company’s firing of an auditor who purportedly raised red flags, which heightens governance and internal-control concerns that investors view as a material risk. Expect continued downward pressure until clarity on allegations, regulatory or auditor developments, or company responses emerge. SueWallSt Disclosure Scrutiny

About Lufax

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.