Millennium Management LLC Increases Stake in Lufax Holding Ltd (NYSE:LU)

Millennium Management LLC grew its position in shares of Lufax Holding Ltd (NYSE:LU - Free Report) by 56.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 580,890 shares of the company's stock after acquiring an additional 209,117 shares during the quarter. Millennium Management LLC owned 0.07% of Lufax worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lufax by 102.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company's stock worth $40,000 after buying an additional 8,382 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Lufax by 24.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 32,677 shares of the company's stock worth $79,000 after acquiring an additional 6,422 shares during the period. Baillie Gifford & Co. boosted its position in Lufax by 0.3% in the fourth quarter. Baillie Gifford & Co. now owns 14,667,069 shares of the company's stock worth $35,054,000 after purchasing an additional 49,964 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Lufax by 35.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,205,838 shares of the company's stock worth $10,052,000 after purchasing an additional 1,102,943 shares during the last quarter. Finally, Amundi grew its stake in Lufax by 32.7% in the 4th quarter. Amundi now owns 54,987 shares of the company's stock valued at $133,000 after purchasing an additional 13,547 shares during the period. Institutional investors own 69.14% of the company's stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft cut Lufax from a "hold" rating to a "sell" rating in a research note on Tuesday, April 29th.

Lufax Stock Performance

LU traded down $0.02 during midday trading on Friday, reaching $2.91. The company had a trading volume of 706,818 shares, compared to its average volume of 3,570,930. Lufax Holding Ltd has a 12-month low of $2.09 and a 12-month high of $4.15. The business has a 50-day moving average price of $2.79 and a two-hundred day moving average price of $2.71. The stock has a market cap of $2.52 billion, a PE ratio of -3.77 and a beta of 0.71.

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.