AI Squared Management Ltd Acquires New Position in Lufax Holding Ltd (NYSE:LU)

AI Squared Management Ltd bought a new position in shares of Lufax Holding Ltd (NYSE:LU) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 334,350 shares of the company’s stock, valued at approximately $1,026,000. Lufax comprises approximately 1.3% of AI Squared Management Ltd’s investment portfolio, making the stock its 14th largest position. AI Squared Management Ltd owned about 0.06% of Lufax at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Citigroup Inc. grew its holdings in shares of Lufax by 207.8% during 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. Wellington Management Group LLP grew its stake in shares of Lufax by 5.4% during the third quarter. Wellington Management Group LLP now owns 4,481,980 shares of the company’s stock worth $4,751,000 after buying an additional 230,191 shares during the last quarter. Lansdowne Partners UK LLP acquired a new position in shares of Lufax during the third quarter worth $2,138,000. Caxton Associates LP lifted its stake 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 acquiring an additional 1,262,746 shares during the last quarter. Finally, Bamco Inc. NY boosted its holdings in shares of Lufax by 22.1% during the 3rd quarter. Bamco Inc. NY now owns 18,416,696 shares of the company’s stock valued at $19,522,000 after acquiring an additional 3,330,411 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Trading Up 2.4 %

Shares of Lufax stock traded up $0.11 during trading on Thursday, hitting $4.61. The company’s stock had a trading volume of 1,234,091 shares, compared to its average volume of 4,760,670. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -32.14, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82. Lufax Holding Ltd has a 52 week low of $2.11 and a 52 week high of $7.64. The stock has a 50-day moving average price of $3.95 and a two-hundred day moving average price of $3.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.70.

Lufax (NYSE:LU) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.18). The company had revenue of $965.76 million during the quarter, compared to the consensus estimate of $1.06 billion. Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. Equities research analysts anticipate that Lufax Holding Ltd will post 0.21 EPS for the current fiscal year.

Lufax Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, June 4th will be paid a $0.156 dividend. This represents a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 4th. Lufax’s dividend payout ratio is currently -178.56%.

Analyst Ratings Changes

Separately, Bank of America cut Lufax from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Lufax currently has a consensus rating of “Hold” and an average target price of $6.91.

Lufax Company Profile

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.