Lufax (NYSE:LU) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Lufax from a “sell” to a “hold” rating, adding to a more cautious but slightly improved analyst outlook for the stock.
• Shares of Lufax were trading around $1.95, near the low end of their 52-week range of $1.73 to $4.57, while analysts now have a consensus rating of “Reduce” and a $2.00 price target.
• The company recently regained compliance with NYSE listing standards, but it also faces class-action legal notices, which could create added uncertainty and costs.

Lufax (NYSE:LU - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Several other equities research analysts have also issued reports on LU. Zacks Research raised shares of Lufax to a "hold" rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. started coverage on shares of Lufax in a report on Friday, April 17th. They issued a "neutral" rating and a $2.00 price target on the stock. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $2.00.

Lufax Trading Down 0.3%

Shares of LU stock opened at $1.95 on Friday. Lufax has a 1 year low of $1.73 and a 1 year high of $4.57. The firm's fifty day simple moving average is $2.07 and its 200 day simple moving average is $2.50. The firm has a market capitalization of $1.69 billion, a P/E ratio of -2.49 and a beta of 0.81.

Lufax (NYSE:LU - Get Free Report) last announced its earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share (EPS) for the quarter. The company had revenue of $724.89 million for the quarter. Equities research analysts anticipate that Lufax will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Lufax

Several institutional investors and hedge funds have recently bought and sold shares of the business. HRT Financial LP increased its holdings in Lufax by 4.2% in the 4th quarter. HRT Financial LP now owns 109,823 shares of the company's stock valued at $281,000 after buying an additional 4,453 shares during the period. Franklin Resources Inc. increased its holdings in Lufax by 2.4% in the 3rd quarter. Franklin Resources Inc. now owns 222,929 shares of the company's stock valued at $905,000 after buying an additional 5,209 shares during the period. Geode Capital Management LLC increased its holdings in Lufax by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 143,238 shares of the company's stock valued at $400,000 after buying an additional 5,417 shares during the period. Profund Advisors LLC increased its holdings in Lufax by 26.1% in the 3rd quarter. Profund Advisors LLC now owns 31,714 shares of the company's stock valued at $129,000 after buying an additional 6,565 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Lufax by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 329,089 shares of the company's stock valued at $615,000 after buying an additional 7,608 shares during the period. Institutional investors own 69.14% of the company's stock.

Key Lufax News

Here are the key news stories impacting Lufax this week:

• Neutral Sentiment: Lufax also announced it regained compliance with the NYSE continued listing standard after becoming current with required SEC filings, removing an overhang related to exchange compliance. Lufax Regains Compliance with NYSE Continued Listing Standard
• Negative Sentiment: New and repeated class-action notices suggest investors are actively pursuing claims against Lufax, increasing legal uncertainty and the risk of distraction, costs, or a settlement. Bronstein, Gewirtz & Grossman LLC Urges Lufax Holding Ltd Investors to Act

Lufax Company Profile

Lufax NYSE: LU is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm's core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.

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