The Manufacturers Life Insurance Company Acquires 73,818 Shares of Nu Holdings Ltd. $NU

The Manufacturers Life Insurance Company lifted its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 8.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 904,485 shares of the company's stock after purchasing an additional 73,818 shares during the quarter. The Manufacturers Life Insurance Company's holdings in NU were worth $12,997,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in NU during the 4th quarter worth approximately $763,792,000. Larch Capital Partners LLC acquired a new position in shares of NU in the fourth quarter valued at approximately $605,829,000. Jennison Associates LLC boosted its holdings in shares of NU by 82.6% in the fourth quarter. Jennison Associates LLC now owns 39,370,791 shares of the company's stock valued at $659,067,000 after buying an additional 17,809,644 shares during the period. Squadra Investments Gestao DE Recursos LTDA. increased its position in shares of NU by 266.8% during the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company's stock worth $320,631,000 after acquiring an additional 16,229,515 shares in the last quarter. Finally, Atmos Capital Gestao DE Recursos LTDA. increased its position in shares of NU by 109.1% during the fourth quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company's stock worth $499,083,000 after acquiring an additional 15,552,726 shares in the last quarter. Institutional investors own 84.02% of the company's stock.

Insider Transactions at NU

In related news, Director Anita M. Sands sold 21,000 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the sale, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NU shares. Weiss Ratings lowered shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 13th. Bank of America reiterated an "underperform" rating on shares of NU in a research note on Tuesday, June 2nd. Susquehanna cut NU from a "positive" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their target price on NU from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, CICC Research started coverage on NU in a report on Tuesday, April 14th. They set an "outperform" rating and a $18.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.24.

NU Stock Performance

NYSE NU opened at $14.35 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average price is $13.19 and its two-hundred day moving average price is $14.56. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The firm has a market capitalization of $69.65 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.94.

NU (NYSE:NU - Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. As a group, research analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU announced that its board has initiated a stock repurchase plan on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

About NU

Nu Holdings Ltd NYSE: NU, commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.

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