Lufax Holding Ltd. Sponsored ADR $LU Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc significantly cut its stake in Lufax Holding Ltd. by 87.2% during the first quarter, reducing its holdings to 51,781 shares valued at $154,000.
• Other investors like QRG Capital Management and Mirae Asset Global Investments have recently acquired or increased their positions in Lufax, with institutional investors owning 69.14% of the stock.
• Lufax currently has an average stock rating of "Reduce", with a consensus target price of $3.20, despite mixed brokerages' ratings reflecting varying perspectives on the company's future.

Aberdeen Group plc reduced its holdings in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 87.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,781 shares of the company's stock after selling 351,200 shares during the quarter. Aberdeen Group plc's holdings in Lufax were worth $154,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. purchased a new position in Lufax during the 1st quarter worth approximately $70,000. Mirae Asset Global Investments Co. Ltd. raised its position in 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 acquiring an additional 7,417 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Lufax in the 1st quarter valued at about $101,000. OMERS ADMINISTRATION Corp purchased a new position in Lufax in the fourth quarter valued at about $142,000. Finally, Walleye Capital LLC raised its holdings in Lufax by 39.0% during 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 last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on LU. Wall Street Zen upgraded shares of Lufax from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Deutsche Bank Aktiengesellschaft downgraded Lufax from a "hold" rating to a "sell" rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Lufax currently has an average rating of "Reduce" and a consensus target price of $3.20.

Lufax Trading Up 5.7%

LU stock opened at $3.0650 on Friday. The firm has a 50 day simple moving average of $2.83 and a 200-day simple moving average of $2.85. The company has a market capitalization of $2.66 billion, a P/E ratio of -3.98 and a beta of 0.69. Lufax Holding Ltd. Sponsored ADR has a twelve month low of $2.13 and a twelve month high of $4.15.

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.

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