Lufax (NYSE:LU) Issues Earnings Results, Misses Expectations By $0.19 EPS

Lufax (NYSE:LU) posted its quarterly earnings data on Tuesday. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.19), Zacks reports. The business had revenue of $724.89 million during the quarter, compared to analysts’ expectations of $761.36 million.

Lufax Stock Performance

Shares of LU stock opened at $2.44 on Wednesday. Lufax has a fifty-two week low of $2.30 and a fifty-two week high of $4.57. The stock’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $2.92. The company has a market cap of $2.11 billion, a PE ratio of -3.13 and a beta of 0.64.

Institutional Trading of Lufax

Several institutional investors and hedge funds have recently modified their holdings of LU. Vanguard Group Inc. grew its position in Lufax by 2.8% in the third quarter. Vanguard Group Inc. now owns 12,399,445 shares of the company’s stock valued at $50,342,000 after acquiring an additional 335,480 shares during the last quarter. Yunqi Capital Ltd grew its position in shares of Lufax by 8.4% in the 3rd quarter. Yunqi Capital Ltd now owns 10,950,138 shares of the company’s stock valued at $44,458,000 after buying an additional 852,098 shares during the last quarter. Alpine Investment Management Ltd raised its position in shares of Lufax by 91.9% during the fourth quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock worth $20,753,000 after acquiring an additional 3,881,500 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lufax by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,802,005 shares of the company’s stock valued at $14,853,000 after acquiring an additional 240,225 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Lufax by 58.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,311,555 shares of the company’s stock valued at $9,239,000 after purchasing an additional 1,221,383 shares during the period. 69.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

About Lufax

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.