Aberdeen Group plc Trims Stock Holdings in Lufax Holding Ltd. Sponsored ADR $LU

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 stake in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 87.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. purchased a new position in shares of Lufax in the first quarter valued at $70,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lufax by 44.7% during the first 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 during the period. Russell Investments Group Ltd. purchased a new stake in shares of Lufax during the first quarter valued at $101,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Lufax in the fourth quarter valued at about $142,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Lufax by 11.2% in the 1st 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 during the period. 69.14% of the stock is owned by hedge funds and other institutional investors.

Lufax Stock Performance

Shares of NYSE LU traded down $0.03 during trading on Thursday, hitting $3.00. 389,936 shares of the company were exchanged, compared to its average volume of 3,254,918. Lufax Holding Ltd. Sponsored ADR has a 12-month low of $2.13 and a 12-month high of $4.15. The company has a fifty day moving average price of $2.84 and a 200-day moving average price of $2.87. The firm has a market capitalization of $2.60 billion, a PE ratio of -3.89 and a beta of 0.69.

Wall Street Analyst Weigh In

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 analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lufax has a consensus rating of "Reduce" and an average price target 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.