New York State Common Retirement Fund Trims Stake in Lufax Holding Ltd. Sponsored ADR (NYSE:LU)

Key Points

• The New York State Common Retirement Fund significantly reduced its stake in Lufax Holding Ltd. by 83.3%, leaving it with 21,120 shares valued at $63,000.
• Other institutional investors have increased their holdings in Lufax, with Pictet Asset Management and Mirae Asset Global Investments notably expanding their positions by over 230% and 44% respectively in recent quarters.
• Lufax's stock currently has a market capitalization of $2.54 billion and recent ratings from analysts have mixed responses, with Deutsche Bank downgrading it to a "sell" while Wall Street Zen upgraded it to "hold."

New York State Common Retirement Fund trimmed its stake in Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 83.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,120 shares of the company's stock after selling 105,000 shares during the period. New York State Common Retirement Fund's holdings in Lufax were worth $63,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. lifted its stake in shares of Lufax by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 71,597 shares of the company's stock worth $171,000 after acquiring an additional 6,013 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Lufax by 43.6% during the 4th quarter. Corient Private Wealth LLC now owns 21,218 shares of the company's stock worth $51,000 after acquiring an additional 6,445 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Lufax by 11.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,847 shares of the company's stock worth $152,000 after acquiring an additional 6,519 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Lufax by 44.7% during the 1st 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 during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Lufax by 230.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 17,282 shares of the company's stock worth $41,000 after acquiring an additional 12,048 shares during the last quarter. 69.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LU shares. Wall Street Zen raised Lufax from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft lowered Lufax from a "hold" rating to a "sell" rating in a research note on Tuesday, April 29th.

Lufax Stock Performance

LU traded up $0.12 during trading on Thursday, hitting $2.94. 800,108 shares of the stock were exchanged, compared to its average volume of 3,478,653. The firm has a 50 day simple moving average of $2.86 and a 200 day simple moving average of $2.81. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -3.81 and a beta of 0.69. Lufax Holding Ltd. Sponsored ADR has a 1 year low of $2.13 and a 1 year high of $4.15.

Lufax 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.