Lufax (NYSE:LU) Trading Up 4.8%

Shares of Lufax Holding Ltd (NYSE:LU) were up 4.8% during trading on Tuesday . The company traded as high as $1.12 and last traded at $1.10. Approximately 2,144,516 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 11,829,280 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

A number of analysts have recently commented on LU shares. The Goldman Sachs Group cut their price objective on shares of Lufax from $1.90 to $1.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 23rd. UBS Group downgraded shares of Lufax from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $1.60 to $1.00 in a report on Thursday, August 24th. CLSA lowered their target price on shares of Lufax from $2.70 to $1.40 in a report on Friday, September 1st. Sanford C. Bernstein began coverage on shares of Lufax in a report on Thursday, June 8th. They set an “outperform” rating and a $2.50 target price on the stock. Finally, HSBC lowered their target price on shares of Lufax from $3.00 to $2.50 in a report on Wednesday, May 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Lufax has an average rating of “Hold” and an average price target of $1.84.

Lufax Stock Performance

The stock’s 50-day moving average price is $1.43 and its 200-day moving average price is $1.62. The company has a market cap of $2.48 billion, a P/E ratio of 8.08, a PEG ratio of 1.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.61 and a quick ratio of 1.61.

Lufax (NYSE:LU) last announced its earnings results on Monday, August 21st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Lufax had a net margin of 4.69% and a return on equity of 2.20%. Equities analysts anticipate that Lufax Holding Ltd will post 0.19 EPS for the current year.

Lufax Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, October 30th. Stockholders of record on Thursday, October 12th will be given a $0.039 dividend. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a dividend yield of 6.2%. Lufax’s payout ratio is presently 69.24%.

Institutional Investors Weigh In On Lufax

Several institutional investors and hedge funds have recently bought and sold shares of LU. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Lufax by 2.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 111,871 shares of the company’s stock worth $623,000 after acquiring an additional 2,871 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Lufax by 6.7% in the fourth quarter. Principal Financial Group Inc. now owns 70,798 shares of the company’s stock worth $137,000 after acquiring an additional 4,455 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Lufax by 1,344.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock worth $31,000 after acquiring an additional 5,299 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Lufax by 2.9% in the third quarter. California State Teachers Retirement System now owns 197,928 shares of the company’s stock valued at $503,000 after buying an additional 5,628 shares during the period. Finally, American International Group Inc. increased its stake in shares of Lufax by 275.7% in the second quarter. American International Group Inc. now owns 8,266 shares of the company’s stock valued at $50,000 after buying an additional 6,066 shares during the period. Institutional investors own 17.40% 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.