Acadian Asset Management LLC Increases Stock Holdings in Lufax Holding Ltd. Sponsored ADR $LU

Key Points

• Acadian Asset Management LLC increased its stake in Lufax Holding Ltd. by 163.4% in Q1, owning over 5.1 million shares valued at approximately $15.34 million.
• Several institutional investors, including Goldman Sachs Group Inc. and Tiger Pacific Capital LP, also adjusted their positions in Lufax, contributing to institutional ownership of 69.14%.
• Analysts have set a consensus target price of $3.20 for Lufax, with one upgrade from a "sell" to a "hold" rating.

Acadian Asset Management LLC raised its position in Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 163.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,168,650 shares of the company's stock after buying an additional 3,206,645 shares during the quarter. Acadian Asset Management LLC owned approximately 0.60% of Lufax worth $15,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. acquired a new position in shares of Lufax in the 1st quarter valued at $70,000. Mirae Asset Global Investments Co. Ltd. grew its position in Lufax by 44.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,017 shares of the company's stock worth $71,000 after purchasing an additional 7,417 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Lufax in the first quarter valued at about $101,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Lufax during the fourth quarter worth about $142,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Lufax by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company's stock worth $211,000 after buying an additional 7,122 shares during the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised Lufax from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lufax presently has a consensus rating of "Reduce" and a consensus price target of $3.20.

Lufax Stock Up 5.2%

Shares of LU traded up $0.16 on Wednesday, reaching $3.13. The stock had a trading volume of 869,756 shares, compared to its average volume of 3,145,523. Lufax Holding Ltd. Sponsored ADR has a twelve month low of $2.21 and a twelve month high of $4.15. The firm has a 50-day moving average of $2.90 and a 200 day moving average of $2.88. The firm has a market capitalization of $2.71 billion, a PE ratio of -4.07 and a beta of 0.69.

Lufax Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.