Wellington Management Group LLP Invests $380,000 in Lufax Holding Ltd (NYSE:LU)

Wellington Management Group LLP purchased a new position in shares of Lufax Holding Ltd (NYSE:LU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 159,148 shares of the company's stock, valued at approximately $380,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tiger Pacific Capital LP purchased a new stake in Lufax in the fourth quarter valued at about $9,409,000. Marshall Wace LLP acquired a new stake in Lufax during the fourth quarter worth about $5,491,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Lufax during the fourth quarter worth about $5,436,000. Norges Bank acquired a new stake in Lufax in the fourth quarter valued at approximately $4,221,000. Finally, Nuveen Asset Management LLC grew its holdings in Lufax by 747.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,293,334 shares of the company's stock valued at $3,091,000 after purchasing an additional 1,140,634 shares during the period. Institutional investors own 69.14% of the company's stock.

Lufax Stock Up 1.6%

NYSE:LU traded up $0.05 on Wednesday, reaching $2.95. The company's stock had a trading volume of 1,731,848 shares, compared to its average volume of 3,531,457. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -3.82 and a beta of 0.71. Lufax Holding Ltd has a 12-month low of $2.09 and a 12-month high of $4.15. The stock has a 50 day moving average price of $2.80 and a 200 day moving average price of $2.73.

Analyst Upgrades and Downgrades

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

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.