344,040 Shares in Lufax Holding Ltd (NYSE:LU) Acquired by abrdn plc

abrdn plc purchased a new position in shares of Lufax Holding Ltd (NYSE:LUGet 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.

Lufax (NYSE:LUGet Rating) last released its quarterly earnings results on Wednesday, May 25th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Lufax had a net margin of 26.75% and a return on equity of 18.65%. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate that Lufax Holding Ltd will post 0.96 EPS for the current fiscal year.

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.

About Lufax

(Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for Lufax (NYSE:LU)

Want More Great Investing Ideas?

Receive News & Ratings for Lufax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lufax and related companies with MarketBeat.com's FREE daily email newsletter.