Cape Ann Asset Management Ltd Takes Position in Lufax Holding Ltd. Sponsored ADR (NYSE:LU)

Key Points

• Cape Ann Asset Management Ltd acquired a new stake in Lufax Holding Ltd, purchasing 1,070,730 shares valued at approximately $3.18 million, making Lufax its 5th largest holding.
• Lufax saw significant changes in investor positions, with large firms like Pictet Asset Management and Corient Private Wealth increasing their stakes by over 230% and 43% respectively in the last quarter.
• Despite the interest from institutional investors, Lufax was downgraded from a "hold" to a "sell" rating by Deutsche Bank, impacting market sentiment.

Cape Ann Asset Management Ltd purchased a new stake in Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,070,730 shares of the company's stock, valued at approximately $3,180,000. Lufax comprises approximately 2.4% of Cape Ann Asset Management Ltd's investment portfolio, making the stock its 5th largest holding. Cape Ann Asset Management Ltd owned approximately 0.12% of Lufax as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH grew its position in Lufax by 18.4% during the 1st quarter. Allianz Asset Management GmbH now owns 1,764,470 shares of the company's stock worth $5,240,000 after acquiring an additional 274,540 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Lufax by 44.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,017 shares of the company's stock valued at $71,000 after buying an additional 7,417 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Lufax in the 1st quarter valued at about $70,000. SG Americas Securities LLC bought a new stake in shares of Lufax in the 1st quarter valued at about $533,000. Finally, Wellington Management Group LLP bought a new stake in shares of Lufax in the 4th quarter valued at about $380,000. Institutional investors own 69.14% of the company's stock.

Lufax Trading Down 1.6%

LU stock traded down $0.05 during trading on Tuesday, reaching $2.84. 1,117,697 shares of the stock were exchanged, compared to its average volume of 3,505,180. The firm's 50 day moving average is $2.87 and its 200 day moving average is $2.81. Lufax Holding Ltd. Sponsored ADR has a twelve month low of $2.13 and a twelve month high of $4.15. The firm has a market cap of $2.46 billion, a P/E ratio of -3.68 and a beta of 0.69.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Lufax from a "sell" rating to a "hold" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft lowered Lufax from a "hold" rating to a "sell" rating in a research report on Tuesday, April 29th.

Lufax Company 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.