Aviva PLC Grows Holdings in Lufax Holding Ltd (NYSE:LU)

Aviva PLC boosted its holdings in Lufax Holding Ltd (NYSE:LU – Get Rating) by 13.0% in the 4th quarter, Holdings Channel reports. The firm owned 407,300 shares of the company’s stock after purchasing an additional 46,900 shares during the period. Aviva PLC’s holdings in Lufax were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors raised its position in Lufax by 6.3% in the 1st quarter. Capital World Investors now owns 56,470,472 shares of the company’s stock valued at $314,541,000 after purchasing an additional 3,341,655 shares during the last quarter. BlackRock Inc. raised its position in Lufax by 1,298.8% during the 1st quarter. BlackRock Inc. now owns 28,468,748 shares of the company’s stock worth $158,571,000 after buying an additional 26,433,557 shares during the last quarter. Vanguard Group Inc. raised its position in Lufax by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 26,711,214 shares of the company’s stock worth $67,846,000 after buying an additional 288,750 shares during the last quarter. Baillie Gifford & Co. raised its position in Lufax by 0.7% during the 4th quarter. Baillie Gifford & Co. now owns 25,442,454 shares of the company’s stock worth $49,358,000 after buying an additional 178,613 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Lufax by 18,231.1% during the 3rd quarter. Marshall Wace LLP now owns 12,593,493 shares of the company’s stock worth $31,982,000 after buying an additional 12,524,793 shares during the last quarter. Hedge funds and other institutional investors own 15.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LU shares. Citigroup downgraded shares of Lufax from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $3.52 to $2.04 in a research report on Monday, March 13th. Macquarie upgraded shares of Lufax from an “underperform” rating to an “outperform” rating in a research report on Tuesday, May 16th. Finally, HSBC cut their price objective on shares of Lufax from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, March 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.57.

Lufax Stock Performance

NYSE:LU opened at $1.58 on Monday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.06. Lufax Holding Ltd has a fifty-two week low of $1.26 and a fifty-two week high of $7.05. The stock has a market cap of $3.62 billion, a PE ratio of 2.87, a price-to-earnings-growth ratio of 1.30 and a beta of 0.56. The firm’s fifty day simple moving average is $1.85 and its 200-day simple moving average is $2.10.

Lufax (NYSE:LU – Get Rating) last issued its quarterly earnings data on Sunday, March 12th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Lufax had a net margin of 15.50% and a return on equity of 9.29%. Analysts expect that Lufax Holding Ltd will post 0.32 earnings per share for the current fiscal year.

Lufax Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, April 21st. Investors of record on Friday, April 7th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a yield of 9.9%. Lufax’s payout ratio is 16.36%.

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.