Hsbc Holdings PLC Has $274,000 Stock Holdings in Lufax Holding Ltd. Sponsored ADR $LU

Key Points

• Hsbc Holdings PLC has reduced its holdings in Lufax Holding Ltd. by 52.1%, bringing its total shares to 92,299, valued at $274,000.
• Other institutional investors, such as Mitsubishi UFJ Asset Management and Mirae Asset Global Investments, have increased their stakes, contributing to a total institutional ownership of 69.14%.
• Lufax has experienced a recent stock downgrade, with an average target price set at $3.20 and updated ratings reflecting a mix of "hold" and "sell" recommendations.

Hsbc Holdings PLC lessened its stake in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 52.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,299 shares of the company's stock after selling 100,559 shares during the period. Hsbc Holdings PLC's holdings in Lufax were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position 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 valued at $211,000 after acquiring an additional 7,122 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position 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 valued at $71,000 after acquiring an additional 7,417 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $1,090,000 after acquiring an additional 12,572 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Lufax during the 1st quarter valued at $70,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Lufax during the 1st quarter valued at $101,000. Institutional investors and hedge funds own 69.14% of the company's stock.

Lufax Stock Down 2.8%

LU traded down $0.09 during trading on Wednesday, hitting $2.94. 1,267,721 shares of the company's stock were exchanged, compared to its average volume of 1,754,965. The business's 50 day moving average is $2.88 and its two-hundred 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 stock has a market cap of $2.54 billion, a P/E ratio of -3.81 and a beta of 0.69.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Lufax from a "sell" rating to a "hold" rating in a research report 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $3.20.

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.