Krane Funds Advisors LLC Sells 3,362,050 Shares of Lufax Holding Ltd (NYSE:LU)

Krane Funds Advisors LLC lessened its stake in shares of Lufax Holding Ltd (NYSE:LU) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,320,883 shares of the company’s stock after selling 3,362,050 shares during the period. Lufax makes up about 2.9% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Krane Funds Advisors LLC owned 1.32% of Lufax worth $62,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. bought a new position in Lufax in the 1st quarter valued at approximately $25,000. PDS Planning Inc bought a new position in Lufax during the 1st quarter valued at about $27,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Lufax during the 1st quarter valued at about $30,000. PNC Financial Services Group Inc. grew its stake in shares of Lufax by 1,344.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock worth $31,000 after acquiring an additional 5,299 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of Lufax during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 17.40% of the company’s stock.

Lufax Price Performance

NYSE:LU opened at $1.16 on Friday. The business’s 50-day simple moving average is $1.47 and its two-hundred day simple moving average is $1.68. Lufax Holding Ltd has a 52 week low of $1.13 and a 52 week high of $4.06. The stock has a market cap of $2.66 billion, a PE ratio of 8.92, a P/E/G ratio of 1.58 and a beta of 0.80. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.06.

Lufax Cuts Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, October 30th. Investors of record on Thursday, October 12th will be given a dividend of $0.039 per share. The ex-dividend date is Wednesday, October 11th. This represents a dividend yield of 6.2%. Lufax’s dividend payout ratio is 69.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LU shares. HSBC cut their target price on shares of Lufax from $3.00 to $2.50 in a research report on Wednesday, May 24th. Bank of America lowered their target price on Lufax from $2.50 to $1.80 in a report on Thursday, July 6th. Macquarie upgraded Lufax from an “underperform” rating to an “outperform” rating in a research note on Tuesday, May 16th. CLSA lowered their price objective on shares of Lufax from $2.70 to $1.40 in a research note on Friday, September 1st. Finally, The Goldman Sachs Group cut their target price on shares of Lufax from $1.90 to $1.70 and set a “neutral” rating for the company in a research report on Wednesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $1.84.

Lufax Company Profile

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. The company offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. It 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.