Baillie Gifford & Co. Has $18.66 Million Stock Position in Lufax Holding Ltd (NYSE:LU)

Baillie Gifford & Co. reduced its position in shares of Lufax Holding Ltd (NYSE:LU - Free Report) by 75.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,077,224 shares of the company's stock after selling 18,801,179 shares during the period. Baillie Gifford & Co. owned about 1.06% of Lufax worth $18,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC acquired a new stake in Lufax in the first quarter valued at approximately $25,000. PNC Financial Services Group Inc. increased its holdings in Lufax by 1,344.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company's stock worth $31,000 after acquiring an additional 5,299 shares during the period. Mackenzie Financial Corp bought a new position in shares of Lufax in the 4th quarter worth $31,000. Cerity Partners LLC grew its holdings in shares of Lufax by 148.8% during the 2nd quarter. Cerity Partners LLC now owns 26,956 shares of the company's stock valued at $39,000 after purchasing an additional 16,123 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Lufax in the 1st quarter worth about $42,000. Institutional investors and hedge funds own 69.14% of the company's stock.

Wall Street Analysts Forecast Growth

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

Lufax Stock Performance

NYSE:LU traded up $0.05 during mid-day trading on Thursday, hitting $4.30. 1,074,547 shares of the company's stock traded hands, compared to its average volume of 5,282,853. The firm has a 50 day moving average of $3.24 and a two-hundred day moving average of $3.37. The company has a current ratio of 1.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.06. Lufax Holding Ltd has a 12 month low of $2.11 and a 12 month high of $8.44. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 18.70 and a beta of 0.88.

Lufax Cuts Dividend

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

Lufax 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.