Nuveen LLC Takes Position in Lufax Holding Ltd. Sponsored ADR $LU

Key Points

• Nuveen LLC has taken a new stake in Lufax Holding Ltd. by purchasing 4,859,255 shares valued at approximately $14.4 million, representing 0.56% of the company's equity.
• Despite the recent investment interest, Lufax's stock has dropped 0.2%, with a current price of $2.7550 and a market cap of $2.39 billion.
• Recent analyst ratings for Lufax show a consensus of "Reduce," indicating mixed sentiment among analysts, with Deutsche Bank downgrading it to "sell" while Wall Street Zen upgraded it to "hold."

Nuveen LLC acquired a new position in Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,859,255 shares of the company's stock, valued at approximately $14,432,000. Nuveen LLC owned 0.56% of Lufax as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Lufax by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,969 shares of the company's stock worth $211,000 after acquiring an additional 7,122 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 7,417 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Lufax by 2.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,099 shares of the company's stock worth $1,090,000 after purchasing an additional 12,572 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Lufax by 7.2% in the fourth quarter. Hsbc Holdings PLC now owns 192,858 shares of the company's stock worth $461,000 after purchasing an additional 12,870 shares in the last quarter. Finally, Walleye Capital LLC increased its stake in shares of Lufax by 39.0% in 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 in the last quarter. Institutional investors own 69.14% of the company's stock.

Lufax Trading Up 5.7%

Shares of LU stock traded up $0.1650 during trading hours on Friday, reaching $3.0650. The stock had a trading volume of 3,317,745 shares, compared to its average volume of 1,858,766. The stock's fifty day simple moving average is $2.83 and its 200 day simple moving average is $2.86. Lufax Holding Ltd. Sponsored ADR has a 12 month low of $2.13 and a 12 month high of $4.15. The firm has a market capitalization of $2.66 billion, a PE ratio of -3.98 and a beta of 0.69.

Analyst Upgrades and Downgrades

LU has been the subject of several recent research reports. Wall Street Zen upgraded shares of Lufax from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Lufax from a "hold" rating to a "sell" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Lufax currently has an average rating of "Reduce" and an average price target of $3.20.

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.