Allianz Asset Management GmbH Increases Stake in Lufax Holding Ltd. Sponsored ADR (NYSE:LU)

Key Points

• Allianz Asset Management GmbH increased its stake in Lufax Holding Ltd. by 18.4% during the first quarter, owning 1,764,470 shares valued at approximately $5.24 million at the end of the quarter.
• Other institutional investors, including Tiger Pacific Capital LP and Nuveen Asset Management LLC, also made significant investments in Lufax, leading to a total institutional ownership of 69.14%.
• Analysts' ratings for Lufax show mixed signals, with Deutsche Bank downgrading it from "hold" to "sell," while Wall Street Zen upgraded it from "sell" to "hold."

Allianz Asset Management GmbH grew its stake in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 18.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,764,470 shares of the company's stock after purchasing an additional 274,540 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.20% of Lufax worth $5,240,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Lufax by 56.2% in the fourth quarter. Millennium Management LLC now owns 580,890 shares of the company's stock worth $1,388,000 after purchasing an additional 209,117 shares in the last quarter. Norges Bank bought a new position in Lufax in the fourth quarter worth about $4,221,000. Northern Trust Corp raised its holdings in Lufax by 110.7% in the fourth quarter. Northern Trust Corp now owns 523,084 shares of the company's stock worth $1,250,000 after purchasing an additional 274,808 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Lufax during the fourth quarter valued at about $380,000. Finally, SG Americas Securities LLC acquired a new position in shares of Lufax during the first quarter valued at about $533,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LU shares. Deutsche Bank Aktiengesellschaft downgraded shares of Lufax from a "hold" rating to a "sell" rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of Lufax from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

Lufax Stock Down 1.9%

Shares of NYSE LU traded down $0.06 during midday trading on Friday, reaching $2.84. 1,079,681 shares of the stock were exchanged, compared to its average volume of 3,470,150. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -3.68 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. The firm has a 50-day simple moving average of $2.86 and a two-hundred day simple moving average of $2.82.

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.