Lufax (NYSE:LU) Stock Price Up 2.9%

Lufax Holding Ltd (NYSE:LU) rose 2.9% on Thursday . The stock traded as high as $4.29 and last traded at $4.28. Approximately 322,474 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 5,064,588 shares. The stock had previously closed at $4.16.

Wall Street Analysts Forecast Growth

LU has been the topic of several research reports. Morgan Stanley raised their target price on Lufax from $3.00 to $4.80 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Bank of America downgraded Lufax from a “buy” rating to a “neutral” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.91.

Lufax Price Performance

The company has a quick ratio of 1.59, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $3.37 and a 200 day simple moving average of $3.36. The company has a market cap of $2.45 billion, a PE ratio of 18.70 and a beta of 0.88.

Lufax (NYSE:LU) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.18). Lufax had a net margin of 2.59% and a return on equity of 0.94%. The firm had revenue of $965.76 million during the quarter, compared to analyst estimates of $1.06 billion. Equities analysts expect that Lufax Holding Ltd will post 0.3 EPS for the current year.

Lufax Cuts Dividend

The business also recently announced a — dividend, which will be paid on Tuesday, August 6th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.156 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a yield of 5.8%. Lufax’s payout ratio is 108.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Lansdowne Partners UK LLP purchased a new stake in shares of Lufax in the 3rd quarter valued at about $2,138,000. Citigroup Inc. lifted its holdings in shares of Lufax by 207.8% in the 3rd quarter. Citigroup Inc. now owns 567,150 shares of the company’s stock valued at $601,000 after purchasing an additional 382,884 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lufax by 25.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,242,221 shares of the company’s stock valued at $4,497,000 after purchasing an additional 862,120 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 109,362 shares during the last quarter. Finally, Caxton Associates LP lifted its holdings in shares of Lufax by 2,850.6% in the 3rd quarter. Caxton Associates LP now owns 1,307,044 shares of the company’s stock valued at $1,385,000 after purchasing an additional 1,262,746 shares during the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

About Lufax

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.