First Beijing Investment Ltd Makes New $13.05 Million 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 acquired a new stake in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,392,625 shares of the company's stock, valued at approximately $13,046,000. Lufax comprises approximately 0.9% of First Beijing Investment Ltd's portfolio, making the stock its 7th biggest holding. First Beijing Investment Ltd owned about 0.51% of Lufax at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. QRG Capital Management Inc. acquired a new stake in Lufax in the first quarter valued at approximately $70,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Lufax by 44.7% during the first 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. bought a new position in Lufax during the first quarter worth $101,000. OMERS ADMINISTRATION Corp bought a new position in Lufax during the fourth quarter worth $142,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Lufax by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company's stock valued at $211,000 after buying an additional 7,122 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company's stock.

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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $3.20.

Lufax Price Performance

NYSE:LU remained flat at $3.02 during mid-day trading on Friday. The company had a trading volume of 1,714,752 shares, compared to its average volume of 1,796,185. The business's fifty day moving average price is $2.89 and its two-hundred day moving average price is $2.88. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -3.92 and a beta of 0.69. Lufax Holding Ltd. Sponsored ADR has a 1 year low of $2.14 and a 1 year high of $4.15.

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.