CIBC Asset Management Inc bought a new stake in shares of Lufax Holding Ltd (NYSE:LU – Get Rating) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,434 shares of the company's stock, valued at approximately $64,000.
Other institutional investors have also added to or reduced their stakes in the company. QCM Cayman Ltd. bought a new position in Lufax in the 1st quarter worth $98,000. IFM Investors Pty Ltd purchased a new stake in Lufax in the first quarter worth about $130,000. Gulf International Bank UK Ltd bought a new position in shares of Lufax in the first quarter worth about $501,000. Russell Investments Group Ltd. lifted its position in shares of Lufax by 22.5% during the 1st quarter. Russell Investments Group Ltd. now owns 180,862 shares of the company's stock valued at $1,007,000 after buying an additional 33,245 shares in the last quarter. Finally, abrdn plc bought a new position in shares of Lufax during the 1st quarter valued at approximately $1,999,000. 24.59% of the stock is currently owned by institutional investors.
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Analyst Ratings Changes
A number of equities research analysts have commented on the stock. CICC Research began coverage on shares of Lufax in a research note on Monday, May 9th. They set an "outperform" rating on the stock. CLSA downgraded shares of Lufax from an "outperform" rating to an "underperform" rating in a research report on Friday, August 5th. Finally, Daiwa Capital Markets started coverage on shares of Lufax in a report on Wednesday, July 27th. They issued a "buy" rating and a $6.40 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.80.
Lufax Trading Up 4.7 %
LU stock opened at $4.26 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.43 and a quick ratio of 1.43. Lufax Holding Ltd has a 1-year low of $4.04 and a 1-year high of $9.11. The business has a 50 day simple moving average of $5.51 and a two-hundred day simple moving average of $5.60. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 4.39, a PEG ratio of 0.43 and a beta of -0.32.
Lufax (NYSE:LU – Get Rating) last issued its earnings results on Wednesday, May 25th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.57 billion. Lufax had a net margin of 23.77% and a return on equity of 16.37%. During the same quarter in the prior year, the business earned $0.30 earnings per share. Research analysts anticipate that Lufax Holding Ltd will post 0.96 EPS for the current fiscal year.
Lufax Announces Dividend
The company also recently announced a semi-annual dividend, which will be paid on Friday, October 28th. Stockholders of record on Thursday, October 13th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, October 12th. This represents a dividend yield of 11%. Lufax's dividend payout ratio (DPR) is 32.99%.
Lufax Profile
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Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company 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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