Handelsbanken Fonder AB Trims Stake in Lufax Holding Ltd (NYSE:LU)

Handelsbanken Fonder AB lowered its position in Lufax Holding Ltd (NYSE:LU - Free Report) by 75.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,625 shares of the company's stock after selling 250,875 shares during the period. Handelsbanken Fonder AB's holdings in Lufax were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lansdowne Partners UK LLP bought a new stake in shares of Lufax during the third quarter worth about $2,138,000. Citigroup Inc. lifted its holdings in shares of Lufax by 207.8% in the third quarter. Citigroup Inc. now owns 567,150 shares of the company's stock valued at $601,000 after purchasing an additional 382,884 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Lufax by 25.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,242,221 shares of the company's stock valued at $4,497,000 after buying an additional 862,120 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Lufax by 663.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 125,846 shares of the company's stock valued at $133,000 after buying an additional 109,362 shares during the last quarter. Finally, Caxton Associates LP lifted its stake in Lufax by 2,850.6% during the 3rd quarter. Caxton Associates LP now owns 1,307,044 shares of the company's stock valued at $1,385,000 after acquiring an additional 1,262,746 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company's stock.

Lufax Stock Performance

Shares of NYSE:LU traded up $0.05 during midday trading on Friday, reaching $4.69. 2,040,422 shares of the company traded hands, compared to its average volume of 4,851,028. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -32.64, a price-to-earnings-growth ratio of 0.60 and a beta of 0.82. Lufax Holding Ltd has a 12 month low of $2.11 and a 12 month high of $7.64. The firm's fifty day moving average price is $3.81 and its two-hundred day moving average price is $3.38.

Lufax (NYSE:LU - Get Free Report) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.18). The firm had revenue of $965.76 million during the quarter, compared to the consensus estimate of $1.06 billion. Lufax had a negative return on equity of 0.72% and a negative net margin of 2.17%. On average, equities analysts expect that Lufax Holding Ltd will post 0.21 earnings per share 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 issued a $0.156 dividend. This represents a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 4th. Lufax's payout ratio is -178.56%.

Analyst Upgrades and Downgrades

Separately, Bank of America cut shares of Lufax from a "buy" rating to a "neutral" rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, three have issued 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 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.