Lufax (NYSE:LU) Shares Up 6.1%

Lufax Holding Ltd (NYSE:LU)’s share price was up 6.1% during trading on Friday . The company traded as high as $4.94 and last traded at $4.86. Approximately 1,528,824 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 4,928,403 shares. The stock had previously closed at $4.58.

Analyst Ratings Changes

A number of brokerages have issued reports on LU. Bank of America lowered Lufax from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. Morgan Stanley increased their price target on Lufax from $3.00 to $4.80 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.91.

Lufax Trading Up 2.2 %

The stock has a market cap of $2.68 billion, a PE ratio of -33.43, a price-to-earnings-growth ratio of 0.42 and a beta of 0.88. The stock has a 50-day moving average price of $3.62 and a two-hundred day moving average price of $3.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.59.

Lufax (NYSE:LU) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.21) earnings per share 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 analysts’ expectations of $1.06 billion. Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. Sell-side analysts forecast that Lufax Holding Ltd will post 0.3 earnings per share for the current fiscal year.

Lufax Cuts Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, August 6th. Investors 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 -178.56%.

Institutional Trading of Lufax

Several institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its stake in Lufax by 22.1% in the third quarter. Bamco Inc. NY now owns 18,416,696 shares of the company’s stock worth $19,522,000 after purchasing an additional 3,330,411 shares during the last quarter. Yunqi Capital Ltd raised its stake in shares of Lufax by 3.1% during the third quarter. Yunqi Capital Ltd now owns 15,359,070 shares of the company’s stock valued at $16,281,000 after acquiring an additional 463,547 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Lufax by 11.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 14,569,386 shares of the company’s stock valued at $15,444,000 after acquiring an additional 1,458,716 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Lufax by 5.4% during the third quarter. Wellington Management Group LLP now owns 4,481,980 shares of the company’s stock valued at $4,751,000 after acquiring an additional 230,191 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Lufax by 16.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,326,193 shares of the company’s stock valued at $4,586,000 after acquiring an additional 615,524 shares in the last quarter. Institutional investors own 69.14% of the company’s stock.

Lufax Company Profile

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.