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Lufax (NYSE:LU) Trading Down 5.4%

Defense World · Aug 14, 2022 03:20

Shares of Lufax Holding Ltd (NYSE:LU – Get Rating) traded down 5.4% on Friday . The company traded as low as $4.01 and last traded at $4.05. 67,750 shares were traded during mid-day trading, a decline of 99% from the average session volume of 6,472,937 shares. The stock had previously closed at $4.28.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. CICC Research assumed coverage on shares of Lufax in a report on Monday, May 9th. They issued an "outperform" rating for the company. Daiwa Capital Markets assumed 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. Finally, CLSA lowered shares of Lufax from an "outperform" rating to an "underperform" rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Lufax presently has a consensus rating of "Hold" and an average target price of $5.80.

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Lufax Price Performance

The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.13. The firm's 50 day simple moving average is $5.44 and its 200 day simple moving average is $5.60. The company has a market capitalization of $9.14 billion, a PE ratio of 4.12, a price-to-earnings-growth ratio of 0.43 and a beta of -0.32.

Lufax (NYSE:LU – Get Rating) last released its earnings results on Wednesday, May 25th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Lufax had a return on equity of 16.50% and a net margin of 23.77%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the company earned $0.30 earnings per share. As a group, research analysts anticipate that Lufax Holding Ltd will post 0.84 EPS for the current fiscal year.

Lufax Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, October 28th. Investors 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 payout ratio is currently 32.99%.

Institutional Trading of Lufax

Several institutional investors and hedge funds have recently made changes to their positions in LU. BlackRock Inc. raised its holdings in Lufax by 1,298.8% in the first quarter. BlackRock Inc. now owns 28,468,748 shares of the company's stock worth $158,571,000 after purchasing an additional 26,433,557 shares in the last quarter. State Street Corp raised its holdings in Lufax by 260.0% in the first quarter. State Street Corp now owns 10,097,656 shares of the company's stock worth $56,243,000 after purchasing an additional 7,292,397 shares in the last quarter. Capital World Investors raised its holdings in Lufax by 6.3% in the first quarter. Capital World Investors now owns 56,470,472 shares of the company's stock worth $314,541,000 after purchasing an additional 3,341,655 shares in the last quarter. Krane Funds Advisors LLC raised its holdings in Lufax by 23.8% in the fourth quarter. Krane Funds Advisors LLC now owns 16,700,079 shares of the company's stock worth $94,021,000 after purchasing an additional 3,212,992 shares in the last quarter. Finally, Farallon Capital Management LLC grew its stake in shares of Lufax by 15.9% during the first quarter. Farallon Capital Management LLC now owns 22,034,399 shares of the company's stock worth $122,732,000 after acquiring an additional 3,015,000 shares during the last quarter. 24.59% of the stock is currently owned by institutional investors.

Lufax Company 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.