IFM Investors Pty Ltd bought a new position in Lufax Holding Ltd (NYSE:LU – Get Rating) in the first quarter, according to the company in its latest 13F filing with the SEC. The fund bought 23,331 shares of the company, valued at around $130,000.
Other hedge funds and other institutional investors also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Lufax in the first quarter worth approximately $434,000. Korea Investment CORP increased its position in Lufax by 13,721.6% during the 4th quarter. Korea Investment CORP now owns 91,361 shares of the company worth $514,000 after acquiring an additional 90,700 shares in the last quarter. Renaissance Technologies LLC increased its stake in Lufax by 69.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,715,265 shares of the company worth $20,917,000 after purchasing an additional 1,527,654 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Lufax in the first quarter worth approximately $163,000. Finally, Russell Investments Group Ltd. increased its stake in Lufax shares by 34.6% during the fourth quarter. Russell Investments Group Ltd. now owns 147,617 shares of the company valued at $830,000 after purchasing an additional 37,936 shares during the period. Hedge funds and other institutional investors own 24.59% of the company’s shares.
A Wall Street analyst gives his opinion
LU has been the subject of a number of recent analyst reports. CLSA downgraded Lufax shares from an “outperforming” rating to an “underperforming” rating in a report released on Friday. Daiwa Capital Markets began covering Lufax shares in a research note on Wednesday July 27. They set a “buy” rating and a price target of $6.40 for the company. Finally, CICC Research began covering Lufax in a research note on Monday, May 9. They issued an “outperformance” rating on the stock. One financial analyst has assigned the stock a sell rating, two have assigned a hold rating and three have assigned the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.60.
Lufax trades down 0.2%
NYSE:LU opened at $4.25 on Tuesday. The company has a 50-day moving average price of $5.63 and a 200-day moving average price of $5.62. The stock has a market capitalization of $9.71 billion, a price/earnings ratio of 4.38, a P/E/G ratio of 0.43 and a beta of -0.32. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt ratio of 0.12. Lufax Holding Ltd has a 12-month low of $4.09 and a 12-month high of $9.11.
Lufax Inc (NYSE:LU – Get Rating) last released quarterly earnings data on Wednesday, May 25. The company reported earnings per share of $0.34 for the quarter, beating the consensus estimate of $0.31 by $0.03. Lufax had a return on equity of 16.37% and a net margin of 23.77%. The company posted revenue of $2.73 billion for the quarter, versus $2.57 billion expected by analysts. During the same period of the previous year, the company posted an EPS of $0.30. Equity analysts expect Lufax Holding Ltd to post EPS of 0.96 for the current 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 return of 11%. Lufax’s dividend payout ratio (DPR) is 32.99%.
Lufax Company Profile
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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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