Farallon Capital Management LLC raised its position in Lufax Holding Ltd (NYSE:LU – Get Rating) by 15.9% in the first quarter, HoldingsChannel.com reports. The fund owned 22,034,399 shares of the company's stock after purchasing an additional 3,015,000 shares during the quarter. Farallon Capital Management LLC's holdings in Lufax were worth $122,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Lufax during the 1st quarter worth about $663,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Lufax during the 1st quarter worth about $434,000. Capital Fund Management S.A. acquired a new stake in shares of Lufax during the 1st quarter worth about $1,063,000. Renaissance Technologies LLC lifted its stake in shares of Lufax by 69.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,715,265 shares of the company's stock worth $20,917,000 after buying an additional 1,527,654 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Lufax during the 1st quarter worth about $163,000. Institutional investors and hedge funds own 15.71% of the company's stock.
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Lufax Price Performance
NYSE:LU opened at $4.03 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.44. Lufax Holding Ltd has a 52 week low of $3.80 and a 52 week high of $8.28. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 4.15, a P/E/G ratio of 0.40 and a beta of -0.29. The firm's 50-day simple moving average is $4.52 and its 200 day simple moving average is $5.37.
Lufax (NYSE:LU – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Lufax had a net
margin of 23.77% and a return on equity of 16.50%. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.66 billion. As a group, sell-side analysts predict that Lufax Holding Ltd will post 0.84 earnings per share for the current year.
Lufax Dividend Announcement
The company also recently announced a semi-annual dividend, which will be paid on Friday, October 28th. Shareholders of record on Thursday, October 13th will be issued a $0.17 dividend. This represents a yield of 11%. The ex-dividend date is Wednesday, October 12th. Lufax's dividend payout ratio is currently 32.99%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on LU. Daiwa Capital Markets began coverage on shares of Lufax in a research report on Wednesday, July 27th. They set a "buy" rating and a $6.40 price target on the stock. CLSA lowered shares of Lufax from an "outperform" rating to an "underperform" rating in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $5.80.
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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