Russell Investments Group Ltd. increased its stake in Lufax Holding Ltd (NYSE:LU – Get Rating) by 31.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 237,939 shares of the company's stock after purchasing an additional 57,077 shares during the period. Russell Investments Group Ltd.'s holdings in Lufax were worth $1,427,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of Lufax by 6.3% in the 1st 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 during the last quarter. BlackRock Inc. lifted its holdings in shares of Lufax by 1,298.8% in the 1st 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 during the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Lufax by 15.9% in the 1st quarter. Farallon Capital Management LLC now owns 22,034,399 shares of the company's stock worth $122,732,000 after purchasing an additional 3,015,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Lufax by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 21,226,049 shares of the company's stock valued at $118,229,000 after acquiring an additional 1,634,823 shares in the last quarter. Finally, Krane Funds Advisors LLC raised its stake in Lufax by 14.8% during the 1st quarter. Krane Funds Advisors LLC now owns 19,176,937 shares of the company's stock valued at $106,816,000 after acquiring an additional 2,476,858 shares in the last quarter. Institutional investors own 15.71% of the company's stock.
Get Lufax alerts:Lufax Stock Down 4.4 %
Shares of LU stock opened at $1.52 on Wednesday. Lufax Holding Ltd has a 1 year low of $1.30 and a 1 year high of $7.62. The stock has a market cap of $3.47 billion, a PE ratio of 1.57, a price-to-earnings-growth ratio of 0.15 and a beta of 0.40. The business's fifty day moving average is $2.91 and its 200-day moving average is $4.52. 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 (NYSE:LU – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (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 for the quarter, compared to analyst estimates of $2.66 billion. Equities analysts expect that Lufax Holding Ltd will post 0.83 earnings per share for the current fiscal year.Lufax Dividend Announcement
The business also recently announced a semi-annual dividend, which was paid on Friday, October 28th. Investors of record on Thursday, October 13th were issued a $0.17 dividend. This represents a dividend yield of 11%. The ex-dividend date was Wednesday, October 12th. Lufax's payout ratio is 30.93%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on LU. Daiwa Capital Markets began coverage on Lufax in a research note on Wednesday, July 27th. They set a "buy" rating and a $6.40 target price on the stock. CLSA downgraded Lufax from an "outperform" rating to an "underperform" rating in a research note on Friday, August 5th. Finally, China Renaissance downgraded Lufax from a "buy" rating to a "hold" rating and set a $3.10 target price on the stock. in a research note on Thursday, September 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Lufax presently has a consensus rating of "Hold" and a consensus target price of $5.13.
About Lufax
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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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