PNC Financial Services Group Inc. Reduces Position in Nu Holdings Ltd. $NU

PNC Financial Services Group Inc. decreased its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 19.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,677 shares of the company’s stock after selling 36,244 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NU were worth $2,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Jordan Park Group LLC grew its holdings in shares of NU by 129.3% during the third quarter. Jordan Park Group LLC now owns 1,958,842 shares of the company’s stock valued at $31,000 after buying an additional 1,104,421 shares during the last quarter. Quaker Wealth Management LLC lifted its position in NU by 212.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock worth $32,000 after acquiring an additional 4,341 shares during the period. Allworth Financial LP grew its stake in NU by 166.6% during the 2nd quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock valued at $35,000 after purchasing an additional 1,601 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of NU in the second quarter valued at about $38,000. Finally, Center for Financial Planning Inc. purchased a new position in shares of NU in the second quarter worth about $52,000. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on NU from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. KeyCorp lifted their price objective on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Zacks Research raised shares of NU from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Susquehanna raised their target price on shares of NU from $19.00 to $22.00 and gave the stock a “positive” rating in a report on Tuesday, January 27th. Finally, UBS Group boosted their target price on shares of NU from $16.00 to $18.40 and gave the company a “neutral” rating in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.34.

NU Trading Up 1.3%

Shares of NYSE:NU opened at $17.55 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $18.98. The business has a 50 day moving average of $17.18 and a two-hundred day moving average of $16.01. The company has a market capitalization of $84.55 billion, a PE ratio of 34.40, a PEG ratio of 0.57 and a beta of 1.08.

NU Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.