Lufax (NYSE:LU) PT Lowered to $3.00 at HSBC

Lufax (NYSE:LU – Get Rating) had its price objective decreased by HSBC from $4.00 to $3.00 in a research report report published on Tuesday, The Fly reports.

LU has been the topic of several other reports. Daiwa Capital Markets downgraded shares of Lufax from a buy rating to a hold rating in a research note on Friday, November 25th. JPMorgan Chase & Co. downgraded shares of Lufax from an overweight rating to an underweight rating and decreased their price target for the stock from $6.40 to $1.60 in a research note on Friday, November 25th. CLSA raised shares of Lufax from a sell rating to a buy rating in a research note on Monday, November 14th. Credit Suisse Group cut shares of Lufax from a neutral rating to an underperform rating and cut their target price for the stock from $1.70 to $1.40 in a report on Friday, November 25th. Finally, Morgan Stanley cut shares of Lufax from an overweight rating to an equal weight rating and cut their target price for the stock from $7.00 to $1.52 in a report on Thursday, December 1st. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lufax presently has a consensus rating of Hold and a consensus price target of $2.57.

Lufax Trading Up 3.1 %

Shares of LU opened at $1.98 on Tuesday. The firm’s 50 day simple moving average is $2.53 and its 200 day simple moving average is $2.42. The company has a market capitalization of $4.53 billion, a P/E ratio of 3.60 and a beta of 0.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.44 and a quick ratio of 1.44. Lufax has a 1-year low of $1.26 and a 1-year high of $7.05.

Lufax Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, April 21st. Stockholders of record on Friday, April 7th will be issued a dividend of $0.05 per share. This represents a dividend yield of 9.9%. The ex-dividend date of this dividend is Wednesday, April 5th. Lufax’s dividend payout ratio (DPR) is presently 54.55%.

Institutional Trading of Lufax

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its position in shares of Lufax by 1,344.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock worth $31,000 after purchasing an additional 5,299 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Lufax in the 4th quarter worth about $31,000. Balentine LLC purchased a new position in shares of Lufax in the 3rd quarter worth about $34,000. EverSource Wealth Advisors LLC purchased a new position in shares of Lufax in the 3rd quarter worth about $40,000. Finally, Platinum Investment Management Ltd. purchased a new position in shares of Lufax in the 2nd quarter worth about $43,000. Institutional investors own 15.24% of the company’s stock.

About Lufax

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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.