Russell Investments Group Ltd. increased its holdings of shares of Lufax Holding Ltd (NYSE: LU – Get Rating) by 22.5% in the first quarter, according to its latest SEC filing. The fund held 180,862 shares of the company after acquiring an additional 33,245 shares during the period. The holdings of Russell Investments Group Ltd. in Lufax were worth $1,007,000 at the end of the last quarter.
Other institutional investors and hedge funds have also recently changed their stakes in the company. Capital Research Global Investors increased its position in Lufax by 2.2% during the 4th quarter. Capital Research Global Investors now owns 56,801,759 shares of the company valued at $319,794,000 after purchasing an additional 1,205,276 shares in the last quarter. Krane Funds Advisors LLC increased its position in Lufax by 23.8% during the 4th quarter. Krane Funds Advisors LLC now owns 16,700,079 shares of the company valued at $94,021,000 after purchasing an additional 3,212,992 shares in the last quarter. Bridgewater Associates LP increased its position in Lufax by 19.1% during the fourth quarter. Bridgewater Associates LP now owns 6,086,951 shares of the company valued at $34,270,000 after purchasing an additional 976,979 shares last quarter. Renaissance Technologies LLC increased its position in Lufax by 69.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,715,265 shares of the company valued at $20,917,000 after purchasing an additional 1,527,654 shares last quarter. Finally, Credit Suisse AG increased its position in Lufax by 302.7% during the 4th quarter. Credit Suisse AG now owns 1,606,654 shares of the company valued at $9,045,000 after buying an additional 1,207,690 shares last quarter. 24.59% of the shares are held by institutional investors.
Wall Street analysts predict growth
A number of brokerages have recently released reports on LU. CLSA downgraded Lufax from an “outperforming” rating to an “underperforming” rating in a Friday, August 5, report. CICC Research assumed coverage for Lufax in a Monday, May 9 report. They issued an “outperformance” rating on the stock. Finally, Daiwa Capital Markets supported Lufax’s coverage in a Wednesday, July 27 research note. They set a “buy” rating and a target price of $6.40 on the stock. One research analyst rated the stock with a sell rating, two gave the company’s stock a hold rating and two gave the company’s stock a buy rating. According to MarketBeat, Lufax has an average rating of “Hold” and a consensus target price of $5.80.
Lufax stock up 1.3%
Shares of LU opened at $3.96 on Friday. Lufax Holding Ltd has a 1-year low of $3.84 and a 1-year high of $9.11. The stock’s fifty-day moving average price is $5.21 and its 200-day moving average price is $5.57. The company has a debt ratio of 0.13, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 4.08, a growth price-to-earnings ratio of 0.40 and a beta of -0.32.
Lufax (NYSE:LU – Get Rating) last released its quarterly results 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. The company posted revenue of $2.73 billion for the quarter, versus a consensus estimate of $2.57 billion. Lufax had a return on equity of 16.50% and a net margin of 23.77%. In the same quarter of the previous year, the company achieved EPS of $0.30. On average, research analysts expect Lufax Holding Ltd to post earnings per share of 0.84 for the current financial year.
Lufax Dividend Announcement
The company also recently declared 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 per share. The ex-dividend date is Wednesday, October 12. This represents a return of 11%. Lufax’s payout ratio is currently 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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