Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Lufax Holding Ltd (NYSE:LU – Get Rating) during the first quarter, reports HoldingsChannel.com. The fund bought 78,000 shares of the company, valued at around $434,000.
Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in LU. Baillie Gifford & Co. increased its stake in Lufax shares by 34.6% in the fourth quarter. Baillie Gifford & Co. now owns 26,496,135 shares of the company worth $149,173,000 after acquiring an additional 6,812,317 shares in the last quarter. Krane Funds Advisors LLC increased its stake in Lufax shares by 23.8% in the fourth quarter. Krane Funds Advisors LLC now owns 16,700,079 shares of the company worth $94,021,000 after acquiring 3,212,992 additional shares in the last quarter. Renaissance Technologies LLC increased its stake in Lufax shares by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,715,265 shares of the company worth $20,917,000 after acquiring an additional 1,527,654 shares in the last quarter. Credit Suisse AG increased its stake in Lufax shares by 302.7% in the fourth quarter. Credit Suisse AG now owns 1,606,654 shares of the company worth $9,045,000 after acquiring an additional 1,207,690 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Lufax shares by 2.2% in the fourth quarter. Capital Research Global Investors now owns 56,801,759 shares of the company worth $319,794,000 after acquiring an additional 1,205,276 shares in the last quarter. 24.59% of the shares are currently held by hedge funds and other institutional investors.
NYSE:LU shares opened at $4.98 on Friday. Lufax Holding Ltd has a 1-year low of $4.09 and a 1-year high of $9.59. The stock’s fifty-day moving average price is $5.93 and its 200-day moving average price is $5.67. The company has a debt ratio of 0.12, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $11.38 billion, a P/E ratio of 4.61, a PEG ratio of 0.57 and a beta of -0.01.
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 consensus analyst estimates of $0.31 by $0.03. Lufax had a return on equity of 18.65% and a net margin of 26.75%. The company posted revenue of $2.73 billion for the quarter, versus a consensus estimate of $2.57 billion. In the same quarter of the previous year, the company had earned earnings per share of $0.30. On average, sell-side analysts expect Lufax Holding Ltd to post earnings per share of 0.96 for the current year.
Separately, CICC Research began covering Lufax in a Monday, May 9 report. They set an “outperformance” rating on the stock. Three research analysts rated the stock with a hold rating and two assigned the stock a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.45.
Lufax Company Profile (Get a rating)
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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