Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Lufax Holding Ltd (NYSE:LU - Free Report) by 79.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 889,775 shares of the company's stock after selling 3,436,418 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.16% of Lufax worth $2,732,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of LU. BlackRock Inc. grew its position in Lufax by 1,298.8% during the 1st quarter. BlackRock Inc. now owns 28,468,748 shares of the company's stock worth $158,571,000 after acquiring an additional 26,433,557 shares during the last quarter. Norges Bank acquired a new position in Lufax during the 4th quarter worth $29,422,000. State Street Corp lifted its holdings in Lufax by 260.0% during the 1st quarter. State Street Corp now owns 10,097,656 shares of the company's stock worth $56,243,000 after buying an additional 7,292,397 shares in the last quarter. Marshall Wace LLP lifted its holdings in Lufax by 68.3% during the 2nd quarter. Marshall Wace LLP now owns 14,054,734 shares of the company's stock worth $20,098,000 after buying an additional 5,705,052 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Lufax by 62.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,895,263 shares of the company's stock worth $25,017,000 after buying an additional 4,961,667 shares in the last quarter. 69.14% of the stock is currently owned by institutional investors.
Lufax Trading Up 1.6 %
Shares of LU stock traded up $0.07 during trading hours on Friday, reaching $4.34. The company had a trading volume of 1,440,674 shares, compared to its average volume of 5,038,725. The company has a 50 day moving average of $3.45 and a 200 day moving average of $3.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.59. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 18.87 and a beta of 0.88. Lufax Holding Ltd has a 1-year low of $2.11 and a 1-year high of $7.88.
Lufax (NYSE:LU - Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.18). The company had revenue of $965.76 million during the quarter, compared to analyst estimates of $1.06 billion. Lufax had a net margin of 2.59% and a return on equity of 0.94%. On average, equities research analysts anticipate that Lufax Holding Ltd will post 0.3 EPS for the current year.
Lufax Cuts Dividend
The business also recently declared a -- dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be paid a $0.156 dividend. This represents a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 4th. Lufax's dividend payout ratio (DPR) is currently 108.70%.
Analysts Set New Price Targets
Several research firms have issued reports on LU. Morgan Stanley upped their price objective on Lufax from $3.00 to $4.80 and gave the stock an "equal weight" rating in a report on Tuesday, January 2nd. Bank of America downgraded Lufax from a "buy" rating to a "neutral" rating in a report on Thursday, January 25th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.91.
Get Our Latest Analysis on LU
About Lufax
(
Free Report)
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.
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