Lufax (NYSE:LU) Shares Gap Down to $4.39

Lufax Holding Ltd (NYSE:LU) shares gapped down before the market opened on Tuesday . The stock had previously closed at $4.39, but opened at $4.16. Lufax shares last traded at $4.25, with a volume of 869,596 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Lufax from $3.00 to $4.80 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Bank of America cut shares of Lufax from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Lufax currently has a consensus rating of “Hold” and a consensus price target of $6.91.

Lufax Stock Down 0.7 %

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 business has a 50-day simple moving average of $3.49 and a 200-day simple moving average of $3.35. The company has a market cap of $2.50 billion, a PE ratio of 18.96 and a beta of 0.88.

Lufax (NYSE:LU) last announced its earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.18). Lufax had a return on equity of 0.94% and a net margin of 2.59%. The business had revenue of $965.76 million for the quarter, compared to analyst estimates of $1.06 billion. Equities research analysts anticipate 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. Stockholders of record on Tuesday, June 4th will be given a $0.156 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a dividend yield of 5.8%. Lufax’s dividend payout ratio (DPR) is 108.70%.

Institutional Trading of Lufax

A number of institutional investors and hedge funds have recently modified their holdings of the stock. abrdn plc increased its stake in Lufax by 1.6% during the 3rd quarter. abrdn plc now owns 1,031,346 shares of the company’s stock worth $1,093,000 after buying an additional 15,824 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Lufax by 11.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 163,818 shares of the company’s stock valued at $174,000 after purchasing an additional 16,354 shares during the last quarter. PFG Investments LLC acquired a new position in Lufax in the 1st quarter valued at $76,000. Van ECK Associates Corp lifted its holdings in Lufax by 70.4% in the 3rd quarter. Van ECK Associates Corp now owns 45,030 shares of the company’s stock valued at $48,000 after purchasing an additional 18,609 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in Lufax during the 1st quarter worth $92,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

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.