First Beijing Investment Ltd Makes New Investment in Lufax Holding Ltd. Sponsored ADR $LU

Key Points

• First Beijing Investment Ltd has acquired a new position in Lufax Holding Ltd. by purchasing approximately 4.4 million shares, totaling around $13 million, making it the 7th largest holding in their portfolio.
• Institutional investors collectively hold 69.14% of Lufax, with notable increases in ownership from several firms including Mitsubishi UFJ Asset Management and Mirae Asset Global Investments.
• Wall Street analysts have upgraded Lufax's rating from "sell" to "hold," indicating a shift in outlook, though the stock still has a consensus rating of "Reduce" with a target price of $3.20.

First Beijing Investment Ltd purchased a new position in Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,392,625 shares of the company's stock, valued at approximately $13,046,000. Lufax accounts for approximately 0.9% of First Beijing Investment Ltd's investment portfolio, making the stock its 7th biggest holding. First Beijing Investment Ltd owned approximately 0.51% of Lufax as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LU. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Lufax by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company's stock worth $211,000 after acquiring an additional 7,122 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 acquiring an additional 7,417 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Lufax by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company's stock worth $3,990,000 after acquiring an additional 8,236 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Lufax by 2.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,099 shares of the company's stock worth $1,090,000 after acquiring an additional 12,572 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Lufax during the 1st quarter worth approximately $70,000. 69.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Lufax Stock Performance

NYSE:LU opened at $2.92 on Tuesday. The stock's fifty day moving average is $2.88 and its 200 day moving average is $2.88. Lufax Holding Ltd. Sponsored ADR has a fifty-two week low of $2.13 and a fifty-two week high of $4.15. The firm has a market capitalization of $2.53 billion, a PE ratio of -3.79 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.

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