Truist Financial Corp Cuts Stock Position in Nu Holdings Ltd. $NU

Key Points

• Truist Financial Corp reduced its stake in Nu Holdings Ltd. by 40.9%, leaving it with 59,396 shares valued at approximately $815,000.
• Several other institutional investors increased their holdings in Nu Holdings during the second quarter, including Janney Montgomery Scott LLC, which grew its stake by 62.3%.
• Nu Holdings reported earnings of $0.14 per share, surpassing expectations and boasting a net margin of 17.90%, while analysts predict an EPS of 0.58 for the current year.

Truist Financial Corp decreased its holdings in Nu Holdings Ltd. (NYSE:NU - Free Report) by 40.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,396 shares of the company's stock after selling 41,066 shares during the period. Truist Financial Corp's holdings in NU were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Janney Montgomery Scott LLC grew its stake in shares of NU by 62.3% in the second quarter. Janney Montgomery Scott LLC now owns 124,801 shares of the company's stock worth $1,712,000 after acquiring an additional 47,910 shares in the last quarter. GC Wealth Management RIA LLC acquired a new position in shares of NU in the second quarter worth $1,100,000. Signaturefd LLC grew its stake in shares of NU by 39.4% in the second quarter. Signaturefd LLC now owns 15,541 shares of the company's stock worth $213,000 after acquiring an additional 4,392 shares in the last quarter. ORG Partners LLC grew its stake in shares of NU by 474.1% in the second quarter. ORG Partners LLC now owns 2,325 shares of the company's stock worth $32,000 after acquiring an additional 1,920 shares in the last quarter. Finally, Dakota Wealth Management grew its stake in shares of NU by 3.9% in the second quarter. Dakota Wealth Management now owns 31,314 shares of the company's stock worth $430,000 after acquiring an additional 1,180 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company's stock.

NU Price Performance

Shares of NU opened at $15.07 on Tuesday. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $16.42. The stock has a market cap of $72.63 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 0.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a fifty day moving average price of $14.63 and a 200 day moving average price of $13.05.

NU (NYSE:NU - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NU had a net margin of 17.90% and a return on equity of 29.91%. The firm had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, sell-side analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

NU has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on shares of NU from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Itau BBA Securities raised shares of NU from a "market perform" rating to an "outperform" rating and set a $18.00 price objective for the company in a research report on Monday, August 18th. Bank of America lifted their price objective on shares of NU from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NU in a research report on Wednesday, October 8th. Finally, Susquehanna lifted their price objective on shares of NU from $15.00 to $17.00 and gave the stock a "positive" rating in a research report on Wednesday, August 27th. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, NU has a consensus rating of "Moderate Buy" and a consensus price target of $17.06.

NU Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.

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