abrdn plc Has $761,000 Position in Lufax Holding Ltd (NYSE:LU)

abrdn plc cut its holdings in shares of Lufax Holding Ltd (NYSE:LU - Free Report) by 76.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,888 shares of the company's stock after selling 783,458 shares during the quarter. abrdn plc's holdings in Lufax were worth $761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in shares of Lufax by 70.4% in the 3rd quarter. Van ECK Associates Corp now owns 45,030 shares of the company's stock valued at $48,000 after purchasing an additional 18,609 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Lufax by 141.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 70,732 shares of the company's stock valued at $75,000 after buying an additional 41,449 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Lufax by 663.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 125,846 shares of the company's stock worth $133,000 after buying an additional 109,362 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Lufax by 11.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 163,818 shares of the company's stock worth $174,000 after acquiring an additional 16,354 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Lufax by 83.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 169,216 shares of the company's stock valued at $179,000 after acquiring an additional 77,135 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company's stock.

Lufax Trading Down 3.1 %

LU traded down $0.14 during trading on Tuesday, hitting $4.39. The company's stock had a trading volume of 2,578,515 shares, compared to its average volume of 4,945,008. Lufax Holding Ltd has a twelve month low of $2.11 and a twelve month high of $7.64. The firm's 50 day moving average price is $3.74 and its 200-day moving average price is $3.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market cap of $2.52 billion, a PE ratio of -31.35, a PEG ratio of 0.64 and a beta of 0.88.

Lufax (NYSE:LU - Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.18). The business had revenue of $965.76 million during the quarter, compared to analysts' expectations of $1.06 billion. Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. On average, analysts expect that Lufax Holding Ltd will post 0.21 earnings per share for the current year.

Lufax Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.156 per share. This represents a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 4th. Lufax's payout ratio is currently -178.56%.

Analyst Upgrades and Downgrades

LU has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Lufax from $3.00 to $4.80 and gave the company an "equal weight" rating in a report on Tuesday, January 2nd. Bank of America cut shares of Lufax from a "buy" rating to a "neutral" rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $6.91.

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.