Lufax Holding Ltd. Sponsored ADR $LU Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly increased its stake in Lufax Holding Ltd. by 608.7% in the first quarter, now owning over 1 million shares valued at approximately $3.35 million.
• Other institutional investors also bought into Lufax, with 69.14% of the company's stock currently held by institutional investors and hedge funds.
• Lufax's stock has a consensus rating of "Reduce" and a price target of $3.20, with recent movements suggesting a potential shift from "sell" to "hold" ratings.

Wellington Management Group LLP raised its position in Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 608.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,127,957 shares of the company's stock after buying an additional 968,809 shares during the period. Wellington Management Group LLP owned about 0.13% of Lufax worth $3,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. acquired a new stake in shares of Lufax in the first quarter worth approximately $70,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 purchasing an additional 7,417 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Lufax during the 1st quarter worth $101,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Lufax in the fourth quarter valued at about $142,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Lufax by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company's stock worth $211,000 after buying an additional 7,122 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company's stock.

Lufax Stock Down 3.7%

Shares of Lufax stock traded down $0.12 during mid-day trading on Thursday, hitting $2.96. The stock had a trading volume of 1,844,291 shares, compared to its average volume of 1,673,295. The firm has a market cap of $2.56 billion, a P/E ratio of -3.84 and a beta of 0.69. The firm has a 50-day moving average of $2.87 and a two-hundred day moving average of $2.88. Lufax Holding Ltd. Sponsored ADR has a 12-month low of $2.13 and a 12-month high of $4.15.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Lufax from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus 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.