Russell Investments Group Ltd. lifted its stake in shares of Lufax Holding Ltd (NYSE:LU – Get Rating) by 92.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 595,783 shares of the company’s stock after purchasing an additional 286,275 shares during the quarter. Russell Investments Group Ltd.’s holdings in Lufax were worth $1,156,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. TT International Asset Management LTD acquired a new stake in shares of Lufax during the 4th quarter worth $1,456,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Lufax by 13.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 316,193 shares of the company’s stock worth $658,000 after buying an additional 36,931 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Lufax during the 4th quarter worth $21,711,000. Harvest Fund Management Co. Ltd lifted its position in shares of Lufax by 102.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 405,558 shares of the company’s stock worth $791,000 after buying an additional 205,530 shares during the last quarter. Finally, Yunqi Capital Ltd bought a new stake in shares of Lufax during the 4th quarter worth $9,179,000. 15.24% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Macquarie upgraded Lufax from an “underperform” rating to an “outperform” rating in a research report on Tuesday, May 16th. HSBC dropped their price objective on Lufax from $3.00 to $2.50 in a research report on Wednesday. Finally, Citigroup downgraded Lufax from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $3.52 to $2.04 in a research report on Monday, March 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three 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 target price of $2.51.
Lufax Price Performance
Lufax (NYSE:LU – Get Rating) last issued its quarterly earnings data on Sunday, March 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Lufax had a return on equity of 4.32% and a net margin of 8.18%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.67 billion. Analysts expect that Lufax Holding Ltd will post 0.32 EPS for the current year.
Lufax Cuts Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Friday, April 21st. Stockholders of record on Friday, April 7th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, April 5th. This represents a dividend yield of 9.9%. Lufax’s dividend payout ratio (DPR) is 36.00%.
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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