Lufax (NYSE:LU) Shares Gap Up to $1.64

Lufax Holding Ltd (NYSE:LUGet Rating)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $1.64, but opened at $1.70. Lufax shares last traded at $1.74, with a volume of 194,148 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. China Renaissance downgraded shares of Lufax from a “buy” rating to a “hold” rating and set a $3.10 target price for the company. in a research report on Thursday, September 29th. CLSA raised shares of Lufax from a “sell” rating to a “buy” rating in a research report on Monday, November 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4.83.

Lufax Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $4.00 billion, a P/E ratio of 1.80 and a beta of 0.04. The business’s 50-day simple moving average is $2.17 and its 200 day simple moving average is $4.12.

Lufax Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, October 28th. Stockholders of record on Thursday, October 13th were given a dividend of $0.17 per share. This represents a dividend yield of 11%. The ex-dividend date was Wednesday, October 12th. Lufax’s payout ratio is 30.93%.

Institutional Investors Weigh In On Lufax

Hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Lufax during the 1st quarter valued at $663,000. Capital Fund Management S.A. purchased a new position in shares of Lufax during the 1st quarter valued at $1,063,000. Los Angeles Capital Management LLC purchased a new position in shares of Lufax during the 2nd quarter valued at $457,000. Aviva PLC lifted its stake in shares of Lufax by 56.7% during the 2nd quarter. Aviva PLC now owns 401,200 shares of the company’s stock valued at $2,407,000 after buying an additional 145,200 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Lufax during the 2nd quarter valued at $3,187,000. Institutional investors own 15.71% of the company’s stock.

Lufax Company Profile

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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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