Lufax (NYSE:LU) Trading Down 5.3% on Analyst Downgrade

Shares of Lufax Holding Ltd (NYSE:LU – Get Rating) dropped 5.3% on Thursday after HSBC lowered their price target on the stock from $3.00 to $2.50. The stock traded as low as $1.33 and last traded at $1.34. Approximately 3,617,440 shares were traded during trading, a decline of 73% from the average daily volume of 13,344,410 shares. The stock had previously closed at $1.41.

LU has been the subject of a number of other research reports. Citigroup lowered Lufax from a “buy” rating to a “neutral” rating and decreased their price target for the company from $3.52 to $2.04 in a research report on Monday, March 13th. Macquarie raised Lufax from an “underperform” rating to an “outperform” rating in a research note on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.51.

Institutional Trading of Lufax

Several institutional investors have recently modified their holdings of LU. Massachusetts Financial Services Co. MA bought a new position in shares of Lufax during the 3rd quarter worth approximately $1,853,000. JBF Capital Inc. grew its stake in shares of Lufax by 23.1% during the third quarter. JBF Capital Inc. now owns 80,000 shares of the company’s stock worth $203,000 after purchasing an additional 15,000 shares during the period. Eaton Vance Management grew its stake in shares of Lufax by 85.1% during the third quarter. Eaton Vance Management now owns 33,363 shares of the company’s stock worth $85,000 after purchasing an additional 15,337 shares during the period. Harvest Fund Management Co. Ltd grew its stake in shares of Lufax by 102.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 405,558 shares of the company’s stock worth $791,000 after purchasing an additional 205,530 shares during the period. Finally, Marshall Wace LLP grew its stake in Lufax by 18,231.1% in the third quarter. Marshall Wace LLP now owns 12,593,493 shares of the company’s stock valued at $31,982,000 after acquiring an additional 12,524,793 shares during the period. Institutional investors and hedge funds own 15.24% of the company’s stock.

Lufax Trading Down 6.4 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 5.28, a PEG ratio of 1.24 and a beta of 0.56. The business has a 50 day simple moving average of $1.81 and a 200-day simple moving average of $2.09.

Lufax (NYSE:LU – Get Rating) last posted its quarterly earnings data on Sunday, March 12th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Lufax had a return on equity of 4.32% and a net margin of 8.18%. As a group, equities analysts expect that Lufax Holding Ltd will post 0.32 earnings per share for the current year.

Lufax Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, April 21st. Investors of record on Friday, April 7th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, April 5th. This represents a yield of 9.9%. Lufax’s payout ratio is presently 36.00%.

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.