CIBC Asset Management Inc bought a new stake in shares of Lufax Holding Ltd (NYSE:LU – Get Rating) in the first quarter, according to its most recent disclosure to the Securities & Exchange Commission. The institutional investor purchased 11,434 shares of the company, valued at approximately $64,000.
Other institutional investors have also increased or reduced their stake in the company. MCQ Cayman Ltd. bought a new position in Lufax in Q1 worth $98,000. IFM Investors Pty Ltd acquired a new stake in Lufax in the first quarter worth approximately $130,000. Gulf International Bank UK Ltd bought a new position in shares of Lufax in the first quarter for a value of approximately $501,000. Russell Investments Group Ltd. increased its position in Lufax shares by 22.5% during the 1st quarter. Russell Investments Group Ltd. now owns 180,862 shares of the company valued at $1,007,000 after purchasing an additional 33,245 shares last quarter. Finally, abrdn plc bought a new position in Lufax shares during Q1 worth approximately $1,999,000. 24.59% of the shares are currently held by institutional investors.
Changes to analyst ratings
A number of equity research analysts commented on the stock. CICC Research began covering Lufax shares in a research note on Monday, May 9. They set an “outperformance” rating on the stock. CLSA downgraded Lufax shares from an “outperforming” rating to an “underperforming” rating in a Friday, August 5 research report. Finally, Daiwa Capital Markets began covering Lufax shares in a report on Wednesday, July 27. They issued a “buy” rating and a target price of $6.40 for the company. One financial analyst has assigned the stock a sell rating, two have issued a hold rating and two have assigned the stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.80.
Lufax trades up 4.7%
LU stock opened at $4.26 on Thursday. The company has a debt ratio of 0.12, a current ratio of 1.43 and a quick ratio of 1.43. Lufax Holding Ltd has a 1-year low of $4.04 and a 1-year high of $9.11. The company has a 50-day simple moving average of $5.51 and a two-hundred-day simple moving average of $5.60. The company has a market capitalization of $9.74 billion, a price-earnings ratio of 4.39, a PEG ratio of 0.43 and a beta of -0.32.
Lufax (NYSE:LU – Get Rating) last released its results on Wednesday, May 25. The company reported earnings per share of $0.34 for the quarter, beating analyst consensus estimates of $0.31 by $0.03. The company posted revenue of $2.73 billion in the quarter, versus analyst estimates of $2.57 billion. Lufax had a net margin of 23.77% and a return on equity of 16.37%. In the same quarter of the previous year, the company had earned earnings per share of $0.30. Research analysts expect Lufax Holding Ltd to post an EPS of 0.96 for the current financial year.
Lufax announces dividend
The company also recently announced a semi-annual dividend, which will be paid on Friday, October 28. Shareholders of record on Thursday, October 13 will receive a dividend of $0.17. The ex-dividend date is Wednesday, October 12. This represents a dividend yield of 11%. Lufax’s dividend payout ratio (DPR) is 32.99%.
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Lufax Holding Ltd operates a personal financial services technology platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) to middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that provides small business owners with lending solutions; and technology empowerment solutions for financial institutions.
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