Charles Schwab Investment Management Inc. Purchases 805,292 Shares of Lufax Holding Ltd. Sponsored ADR $LU

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Lufax Holding Ltd. by 19.1% in Q1, now owning approximately 5 million shares valued at $14.88 million.
• Several institutional investors, including Mirae Asset Global Investments and Allianz Asset Management, have also raised their holdings in Lufax during the same quarter.
• Lufax's stock received mixed analyst ratings, with Deutsche Bank downgrading it to "sell" and others maintaining a "hold" stance, resulting in an average target price of $3.20.

Charles Schwab Investment Management Inc. grew its stake in Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 19.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,011,130 shares of the company's stock after buying an additional 805,292 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.58% of Lufax worth $14,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LU. QRG Capital Management Inc. acquired a new stake in shares of Lufax in the first quarter worth about $70,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Lufax by 44.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,017 shares of the company's stock worth $71,000 after buying an additional 7,417 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Lufax in the fourth quarter worth about $142,000. Walleye Capital LLC increased its stake in shares of Lufax by 39.0% in the fourth quarter. Walleye Capital LLC now owns 72,554 shares of the company's stock worth $173,000 after purchasing an additional 20,339 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Lufax in the fourth quarter worth about $217,000. Institutional investors and hedge funds own 69.14% of the company's stock.

Lufax Trading Down 2.5%

LU traded down $0.08 on Thursday, hitting $2.95. 668,384 shares of the stock traded hands, compared to its average volume of 3,257,320. Lufax Holding Ltd. Sponsored ADR has a 52 week low of $2.13 and a 52 week high of $4.15. The firm has a market capitalization of $2.55 billion, a PE ratio of -3.82 and a beta of 0.69. The business has a fifty day moving average price of $2.84 and a two-hundred day moving average price of $2.87.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Lufax from a "sell" rating to a "hold" rating in a research note 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $3.20.

About Lufax

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.