Lufax (NYSE:LU) Trading Up 2.9%

Lufax Holding Ltd (NYSE:LU - Get Free Report) shares traded up 2.9% on Thursday . The company traded as high as $4.29 and last traded at $4.28. 322,474 shares changed hands during trading, a decline of 94% from the average session volume of 5,064,588 shares. The stock had previously closed at $4.16.

Analyst Upgrades and Downgrades

LU has been the topic of a number of research analyst reports. Bank of America lowered shares of Lufax from a "buy" rating to a "neutral" rating in a research note on Thursday, January 25th. Morgan Stanley lifted their price target on shares of Lufax from $3.00 to $4.80 and gave the stock an "equal weight" rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $6.91.

Lufax Stock Performance

The firm's 50 day simple moving average is $3.37 and its 200-day simple moving average is $3.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.59 and a current ratio of 1.68. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 18.57 and a beta of 0.88.

Lufax (NYSE:LU - Get Free Report) last announced its earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.18). Lufax had a net margin of 2.59% and a return on equity of 0.94%. The firm had revenue of $965.76 million for the quarter, compared to analyst estimates of $1.06 billion. Analysts expect that Lufax Holding Ltd will post 0.3 EPS for the current year.

Lufax Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.156 per share. This represents a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 4th. Lufax's dividend payout ratio (DPR) is currently 108.70%.

Hedge Funds Weigh In On Lufax

Several institutional investors and hedge funds have recently modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Lufax by 2.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 111,871 shares of the company's stock valued at $623,000 after acquiring an additional 2,871 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Lufax by 6.7% during the fourth quarter. Principal Financial Group Inc. now owns 70,798 shares of the company's stock valued at $137,000 after acquiring an additional 4,455 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Lufax by 1,344.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company's stock valued at $31,000 after acquiring an additional 5,299 shares during the period. California State Teachers Retirement System boosted its holdings in Lufax by 2.9% during the third quarter. California State Teachers Retirement System now owns 197,928 shares of the company's stock valued at $503,000 after acquiring an additional 5,628 shares during the period. Finally, American International Group Inc. boosted its holdings in Lufax by 275.7% during the second quarter. American International Group Inc. now owns 8,266 shares of the company's stock valued at $50,000 after acquiring an additional 6,066 shares during the period. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Lufax Company Profile

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. The company offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.