Ameriprise Financial Inc. Purchases 4,725,868 Shares of Nu Holdings Ltd. $NU

Key Points

• Ameriprise Financial Inc. has increased its stake in Nu Holdings Ltd. by 63.2%, acquiring an additional 4,725,868 shares, bringing its total to 12,206,329 shares valued at approximately $124.73 million.
• Nu Holdings reported a net margin of 17.90% and a return on equity of 29.91% in its most recent earnings, surpassing analysts' expectations with earnings per share of $0.14.
• Multiple analysts have given Nu Holdings a consensus rating of "Moderate Buy" with an average target price of $16.56 following several upgrades and positive ratings from firms like Citigroup and Itau BBA Securities.

Ameriprise Financial Inc. raised its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 63.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,206,329 shares of the company's stock after purchasing an additional 4,725,868 shares during the quarter. Ameriprise Financial Inc. owned 0.25% of NU worth $124,730,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of NU by 2,069.9% during the first quarter. GAMMA Investing LLC now owns 72,192 shares of the company's stock valued at $7,050,000 after buying an additional 68,865 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in NU in the 1st quarter valued at approximately $113,000. Cetera Investment Advisers boosted its stake in NU by 6.0% during the 4th quarter. Cetera Investment Advisers now owns 194,295 shares of the company's stock valued at $2,013,000 after purchasing an additional 10,955 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of NU by 212.1% in the 1st quarter. SG Americas Securities LLC now owns 83,401 shares of the company's stock worth $854,000 after purchasing an additional 56,682 shares in the last quarter. Finally, Unison Asset Management LLC raised its stake in shares of NU by 3.1% in the first quarter. Unison Asset Management LLC now owns 1,261,650 shares of the company's stock worth $12,798,000 after purchasing an additional 37,888 shares during the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

NU Stock Performance

NU opened at $13.9350 on Monday. The company's 50 day moving average is $12.91 and its 200 day moving average is $12.15. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. The company has a market cap of $67.15 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 0.80 and a beta of 1.05. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $16.15.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NU had a net margin of 17.90% and a return on equity of 29.91%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm earned $0.12 earnings per share. On average, equities research analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on NU shares. Morgan Stanley reaffirmed an "overweight" rating on shares of NU in a research report on Friday, June 13th. Citigroup raised shares of NU from a "sell" rating to a "buy" rating and raised their price target for the company from $9.00 to $18.00 in a report on Wednesday, August 20th. Itau BBA Securities upgraded shares of NU from a "market perform" rating to an "outperform" rating and set a $18.00 price target for the company in a research note on Monday, August 18th. JPMorgan Chase & Co. increased their price objective on shares of NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. Finally, Susquehanna raised their target price on shares of NU from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Wednesday, May 14th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.56.

About NU

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.

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