Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Lufax Holding Ltd (NYSE:LU – Get Rating) in the first quarter, HoldingsChannel reports. The institutional investor purchased 1,191,770 shares of the company, valued at approximately $6,638,000.
Other institutional investors and hedge funds have also recently increased or reduced their stake in the company. Van ECK Associates Corp increased its position in Lufax shares by 81.5% during the fourth quarter. Van ECK Associates Corp now owns 11,399 shares of the company valued at $64,000 after acquiring 5,119 additional shares in the last quarter. Acadian Asset Management LLC acquired a new equity stake in Lufax during Q4 for $42,000. Asset Management One Co. Ltd. increased its position in Lufax shares by 52.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 34,944 shares of the company valued at $191,000 after acquiring an additional 12,078 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new equity stake in Lufax during Q1 worth $68,000. Finally, Virginia Retirement Systems ET AL acquired a new equity stake in Lufax during Q1 for $71,000. 24.59% of the shares are held by institutional investors.
A Wall Street analyst gives his opinion
Separately, CICC Research supported Lufax’s coverage in a Monday, May 9 report. They gave the company an “outperform” rating. Three research analysts gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.45.
Lufax Price Performance
LU opened at $5.04 on Tuesday. The stock has a market capitalization of $11.52 billion, a price-earnings ratio of 4.67, a PEG ratio of 0.49 and a beta of -0.01. 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 1-year low of $4.09 and a 1-year high of $9.11. The stock has a fifty-day moving average price of $5.93 and a 200-day moving average price of $5.66.
Lufax (NYSE:LU – Get Rating) last reported quarterly results on Wednesday, May 25. The company reported EPS of $0.34 for the quarter, beating the consensus estimate of $0.31 by $0.03. The company posted revenue of $2.73 billion in the quarter, compared to $2.57 billion expected by analysts. Lufax had a return on equity of 18.65% and a net margin of 26.75%. In the same quarter a year earlier, the company posted EPS of $0.30. Analysts expect Lufax Holding Ltd to post an EPS of 0.96 for the current financial year.
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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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