abrdn plc purchased a new position in shares of Lufax Holding Ltd (NYSE:LU – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 344,040 shares of the company’s stock, valued at approximately $1,999,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Lufax during the fourth quarter worth approximately $42,000. Van ECK Associates Corp grew its holdings in Lufax by 81.5% during the fourth quarter. Van ECK Associates Corp now owns 11,399 shares of the company’s stock valued at $64,000 after purchasing an additional 5,119 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Lufax during the first quarter valued at approximately $68,000. Virginia Retirement Systems ET AL acquired a new position in Lufax during the first quarter valued at approximately $71,000. Finally, LMR Partners LLP acquired a new position in Lufax during the fourth quarter valued at approximately $121,000. 24.59% of the stock is owned by institutional investors.
Lufax Stock Down 2.6 %
Lufax stock opened at $4.46 on Tuesday. The stock has a market capitalization of $10.19 billion, a PE ratio of 4.13, a price-to-earnings-growth ratio of 0.46 and a beta of -0.32. Lufax Holding Ltd has a twelve month low of $4.09 and a twelve month high of $9.11. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $5.76 and a 200-day moving average of $5.63.
Analyst Upgrades and Downgrades
LU has been the subject of a number of analyst reports. CICC Research initiated coverage on shares of Lufax in a report on Monday, May 9th. They set an “outperform” rating for the company. Daiwa Capital Markets initiated coverage on shares of Lufax in a report on Wednesday, July 27th. They set a “buy” rating and a $6.40 price objective for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Lufax presently has a consensus rating of “Moderate Buy” and an average price target of $8.04.
Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. The company 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.
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