Lufax (LU) to Announce Earnings on Thursday

Lufax (NYSE:LU) will likely be releasing its results before the market opens on Thursday, July 30th. Analysts expect Lufax to announce earnings of $1.08 per share and revenue of $2.2232 billion for the quarter.

Lufax Price Performance

Shares of NYSE:LU opened at $1.55 on Wednesday. Lufax has a one year low of $1.20 and a one year high of $4.57. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -1.99 and a beta of 0.79. The firm has a 50 day simple moving average of $1.42 and a 200 day simple moving average of $1.99.

Hedge Funds Weigh In On Lufax

Several institutional investors and hedge funds have recently added to or reduced their stakes in LU. Amundi lifted its holdings in shares of Lufax by 76.8% during the first quarter. Amundi now owns 97,223 shares of the company’s stock worth $282,000 after purchasing an additional 42,236 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Lufax by 32.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 604,823 shares of the company’s stock valued at $1,796,000 after purchasing an additional 148,724 shares during the period. Goldman Sachs Group Inc. raised its position in Lufax by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,343,505 shares of the company’s stock worth $3,990,000 after purchasing an additional 8,236 shares during the last quarter. Geode Capital Management LLC raised its position in Lufax by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 143,238 shares of the company’s stock worth $400,000 after purchasing an additional 5,417 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Lufax by 74.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 110,024 shares of the company’s stock worth $307,000 after buying an additional 47,001 shares during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on LU shares. Wall Street Zen upgraded shares of Lufax from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Lufax in a report on Monday, May 18th. Zacks Research upgraded Lufax to a “hold” rating in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. raised Lufax from a “neutral” rating to an “overweight” rating and set a $2.00 target price for the company in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.00.

Lufax Company Profile

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.